Missouri FBMA2009 Analysis and

Comparisons

2009 FBMA Record Summary• 149 Farms Submitted Analysis

– 134 Included in Summary• 71 with enterprise analysis (56 in 2008)• 63 with whole farm only (85 in 2008)

– 15 Not Included• 4 with less than 250 unpaid hours and/or small

gross income and/or non-typical operation• 8 with incomplete or missing data• 3 1st –year balance sheets

-36,000-16,000

4,00024,00044,00064,00084,000

104,000124,000144,000164,000184,000204,000224,000244,000264,000284,000304,000324,000344,000364,000

Farm Rank

NF

I P

er

Farm

Un

it

NFI by Farm Avg NFI Median NFI

2009 Distribution of Net Farm Income (Cost)(NFI from all farms are included in the Median and Average figures but 5 farms’ NFI is excluded

from the upper and 4 from the lower end because of range.)

NFI by Farm

Average NFI

Median NFI

Note: ‘07-’09 Hogs not included in graph.

2009 Missouri FBMA Income Sources

2009 Missouri FBMA Expense Sources

MO 2005 MO 2006 MO 2007 MO 2008 MO 2009(97 farms) (80 farms) (122 farms) (141 farms) (134 farms)

Gross Cash Farm $325,631 $394,389 $391,192 $405,230 $496,562 IncomeTotal Cash Expense $273,566 $327,150 $315,503 $331,787 $411,290

Net Cash Farm $52,065 $67,239 $75,689 $73,443 $85,272 IncomeInventory Changes $6,925 $31,317 $58,884 -$5,931 $28,059

Depreciation -$6,510 -$11,894 -$11,878 -$15,018 -$21,817

Demographics

MO 2005 MO 2006 MO 2007 MO 2008 MO 2009(97 farms) (80 farms) (122 farms) (141 farms) (134 farms)

Net Farm Income $62,480 $86,662 $122,695 $52,507 $92,019 (cash)Value of Farm $252,846 $335,070 $367,326 $314,900 $413,657 ProductionTotal Labor 2,657 3,323 3,152 2,973 3,193 Hours/FarmNet Farm $39.33 $47.78 $70.91 $32.50 $59.72 Income/Unpaid Hour

Demographics – (continued)

MO 2005 MO 2006 MO 2007 MO 2008 MO 2009(97 farms) (80 farms) (122 farms) (141 farms) (134 farms)

Total Acres Owned 420 426 436 403 435 Total Crop Acres 686 830 739 692 829 Crop Acres Cash 222 260 236 253 326 Rented

Crop Acres Share 209 298 240 210 227 Rented

Demographics – Acres

MO 2005 MO 2006 MO 2007 MO 2008 MO 2009(97 farms) (80 farms) (122 farms) (141 farms) (134 farms)

Average Age of 47.6 47.4 46.3 46.4 48.7 Operator

Average Number of 24.3 25.3 23.6 23.2 26.2 Years Farming

Demographics – Operators

Demographics – Crop YieldsMO Ag Statistical Service MO FBMA Farms

2006/Avg 2007/Avg 2008/Avg 2009/Avg 2006/Avg 2007/Avg 2008/Avg 2009/Avg

Corn (bu.) 138 142 144 153 128 137 131 149.2

Soybeans (bu.) 38 37 38 43.5 40 40 34 45.5

Winter Wheat (bu.) 54 43 48 47 47 48 52 41.3

Grain Sorghum (bu.) 85 96 97 86 79 89 81 -

Hay (T.) Mixed(All

Hay) 2.07 2.3 2.3 2.6 2.24

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 2009 Missouri FBMA Farm in the Local Community &

Service Area

• With Other Farmers $38,717

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

• With Other Landowners $35,437

– (Cash Land Rent/Leases)

• For Labor $20,177

• For Farm Utilities $6,854

Money Spent (continued)

• With Agribusiness Community $280,683

– Crop Production Expenses $130,637

– Livestock Production Expenses $90,625

– Fuel & Repair Expenses $40,914

– Other/Misc. Expenses $12,829

– Farm Insurance $5,678

Money Spent (continued)

• With Lenders (Interest) $20,146

• For Farm Equipment/Vehicles/Leases $46,725

• For Farm Assets $61,645

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

• For Local Government $3,818

– (Real Estate/Personal Prop Taxes)

• Family Living/Non-Farm Expenses* $56,704

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

*Partially reported

Total Annual Spending Within the Community or Service Area by the Average Missouri FBMA Farm…........................ $570,906