Missouri FBMA2008 Analysis and

Comparisons

2008 FBMA Record Summary• 161 Farms Submitted Analysis

– 141 Included in Summary• 56 with enterprise analysis• 85 with whole farm only

– 20 Not Included• 6 with less than 250 unpaid hours and/or small

gross income• 14 with incomplete or missing data – corrections

not made• 23 1st –year balance sheets only

Demographics –

Gross Cash Farm Income

Total Cash Expense

Net Cash Farm Income

Inventory Changes

Depreciation

MO 2005 MO 2006 MO 2007 MO 2008 (97Farms) (80 Farms) (122 Farms) (141 farms)

$325,631 $394,389 $391,192 $405,230

$273,566 $327,150 $315,503 $331,787

$52,065 $67,239 $75,689 $73,443

$6,925 $31,317 $58,884 -$5,931

-$6,510 -$11,894 -$11,878 -$15,018

Demographics – (continued)

Net Farm Income (cash)

Value of Farm Production

Total Labor Hours/Farm

Net Farm Income/Unpaid Hour

MO 2005 MO 2006 MO 2007 MO 2008 (97Farms) (80 Farms) (122 Farms) (141 Farms)

$62,480 $86,662 $122,695 $52,507

$252,846 $335,070 $367,326 $314,900

2,657 3,323 3,152 2,973

$39.33 $47.78 $70.91 $32.50

Demographics – Acres MO 2005 MO 2006 MO 2007 MO

2008

97 Farms 80 Farms 122 farms 141 Farms

Total Acres Owned 420 426 436 403

Total Crop Acres 686 830 739 692

Crop Acres Cash

Rented 222 260 236 253

Crop Acres Share 209 298 240 210

Rented

Demographics – Operators

MO 2005 MO 2006 MO 2007 MO 2007

97 Farms 80 Farms 122 farms 141 Farms

Average Age of 47.6 47.4 46.3 46.4

Operator

Average Number 24.3 25.3 23.6 23.2

of Years Farming

Demographics – Crop YieldsMO Ag. Statistical

ServiceMO FBMA Farms

2006/Avg 2007/Avg 2008/Avg 2006/Avg 2007/Avg 2008/Avg

Corn (bu.) 138 142 144 128 137 131

Soybeans (bu.) 38 37 38 40 40 34

Winter Wheat (bu.)

54 43 48 47 48 52

Grain Sorghum (bu.)

85 96 97 79 89 81

Hay, (T) Mixed2.3 2.3 2.6

Current Ratio

Working Capital

Farm Debt to Asset Ratio(MKT)

Farm Equity to Asset Ratio(MKT)

Farm Debt to Equity Ratio(MKT)

Rate of Return on Farm Assets(COST)

Rate of Returnon Farm Equity (COST)

Operating Profit Margin(COST)

Net Farm Income (COST)

Term Debt Coverage Ratio

Capital ReplacementMargin

Asset Turnover Rate(Cost)

Operating Expense Ratio

Depreciation ExpenseRatio

Interest Expense Ratio

Net Farm Income Ratio

What is the Economic Impact of an Average Farm in a Local Community?

Money Spent by the Average 2008 Missouri FBMA Farm in the Local Community &

Service Area

• With Other Farmers $34,805

– (Brd/Non-Brd.-Livestock & Custom Work)

• With Other Landowners $30,754

– (Cash Land Rent/Leases)

• For Labor $14,949

• For Farm Utilities $5,963

Money Spent (continued)

• With Agribusiness Community $244,268

– Crop Production Expenses $101,001

– Livestock Production Expenses $89,223

– Fuel & Repair Expenses $40,263

– Other/Misc. Expenses $8,742

– Farm Insurance $5,039

Money Spent (continued)

• With Lenders (Interest/Leases) $17,800

• For Farm Equipment/Vehicles $42,879

• For Farm Assets $33,923

– (Bldgs./Land/Impr. - Other Farm Assets)

• For Local Government $3,311

– (Real Estate/Personal Prop Taxes)

• Family Living Expenses* $59,224

– (Inc. Taxes & Purch. Of Non-Farm Assets)

*Partially reported

Total Annual Spending Within the Community or Service Area by the Average Missouri FBMA Farm…........................ $487,876

FBMA & FINBIN Comparisons 2005-2008