missouri fbma 2011 analysis and comparisons. 2011 fbma record summary 153 farms submitted analysis...
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Missouri FBMA2011 Analysis and
Comparisons
2011 FBMA Record Summary• 153 Farms Submitted Analysis
– 151 Included in Summary• 111 with enterprise analysis (81 in 2010)• 40 with whole farm only (57 in 2010)
– Not Included• 2 with less than 250 unpaid hours and/or small
gross income and/or non-typical operation• 1 1st –year balance sheet (8 in 2010)• 18-20 farms new to the summary
2011 Distribution of Net Farm Income (Cost)(NFI from all farms are included in the Median and Average figures but 1 farm NFI is excluded
from the upper end because of range.)
NFI by Farm
Average NFI = $148,886
Median NFI = $74,806
-30,00020,00070,000
120,000170,000220,000270,000320,000370,000
420,000470,000520,000570,000620,000670,000
720,000770,000820,000
Farm Rank
NF
I Per
Far
m U
nit
NFI by Farm Avg NFI Median NFI
Note: ‘07-’10 Hogs not included in graph.
Note: ‘07-’10 Hogs not included in graph.
2011 Missouri FBMA Income Sources
2011 Missouri FBMA Expense Sources
* FBMA farms that included a complete crop enterprise analysis, including all direct and overhead costs (53 farms in 2011).
MO2005
MO 2006
MO2007
MO2008
MO2009
MO2010
MO2011
(97 farms) (80 farms) (122 farms) (141 farms) (134 farms) (138 farms) (151 farms)
Gross Cash Farm $325,631 $394,389 $391,192 $405,230 $496,562 $567,187 $582,940
Income
Total Cash Expense $273,566 $327,150 $315,503 $331,787 $411,290 $433,597 $469,897
Net Cash Farm $52,065 $67,239 $75,689 $73,443 $85,272 $133,590 $113,043
Income
Inventory Changes $6,925 $31,317 $58,884 -$5,931 $28,059 $45,383 $61,646
Depreciation -$6,510 -$11,894 -$11,878 -$15,018 -$21,817 -$26,125 -$31,434
Demographics
MO 2005
MO2006
MO2007
MO2008
MO2009
MO2010
MO2011
(97 farms) (80 farms) (122 farms) (141 farms) (134 farms) (138 farms) (151 farms)
Net Farm Income $62,480 $86,662 $122,695 $52,507 $92,019 $160,387 $148,886
(cash)
Value of Farm $252,846 $335,070 $367,326 $314,900 $413,657 $495,231 $505,233
Production
Total Labor 2,657 3,323 3,152 2,973 3,193 3,162 3,011
Hours/Farm
Net Farm $39.33 $47.78 $70.91 $32.50 $59.72 $103.45 $100.55
Income/Unpaid
Hour
Demographics – (continued)
MO2005
MO2006
MO2007
MO2008
MO2009
MO2010
MO2011
(97 farms) (80 farms) (122 farms) (141 farms) (134 farms) (138 farms) (151 farms)
Total Acres Owned 420 426 436 403 435 477 397
Total Crop Acres 686 830 739 692 829 827 684
Crop Acres Cash 222 260 236 253 326 327 262
Rented
Crop Acres Share 209 298 240 210 227 222 193
Rented
Demographics – Acres
MO2005
MO2006
MO2007
MO2008
MO2009
MO2010
MO2011
(97 farms) (80 farms) (122 farms) (141 farms) (134 farms) (138 farms) (151 farms)
Average Age of 47.6 47.4 46.3 46.4 48.7 49.5 48.9
Operator
Average Number of 24.3 25.3 23.6 23.2 26.2 27.1 26.2
Years Farming
Demographics – Operators
Demographics – Crop YieldsMO Ag Statistical Service MO FBMA Farms
2006/Avg 2007/Avg 2008/Avg 2009/Avg 2010/Avg 2011/Avg 2006/Avg 2007/Avg 2008/Avg 2009/Avg 2010/Avg 2011/Avg
Corn (bu.) 138 142 144 153 123 128 137 131 149.2 109.8 115.2
Soybeans (bu.) 38 37 38 43.5 41.5 40 40 34 45.5 44.6 40.4
Winter Wheat (bu.) 54 43 48 47 45 47 48 52 41.3 41.4 53.9
Grain Sorghum (bu.) 85 96 97 86 78 79 89 81 - - -
Hay (T.) Mixed(All
Hay) 2.07 1.96 2.3 2.3 2.6 2.24 2.8 2.0
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 FBMA Farm in a Local Community in
2011?
Money Spent by the Average 2011 Missouri FBMA Farm in the Local Community &
Service Area
• With Other Farmers $44,266
– (Brd/Non-Brd.-Livestock & Custom Work)
• With Other Landowners $42,207
– (Cash Land Rent/Land Leases)
• For Labor $20,386
• For Farm Utilities $6,474
Money Spent (continued)
• With Agribusiness Community $338,959
– Crop Production Expenses $156,858
– Livestock Production Expenses $110,541
– Fuel & Repair Expenses $51,498
– Other/Misc. Expenses $13,821
– Farm Insurance $6,241
Money Spent (continued)
• With Lenders (Interest) $19,247
• For Farm Equipment/Vehicles/Leases $77,133
• For Farm Assets $37,296
– (Bldgs./Land/Impr. - Other Farm Assets)
• For Local Government $3,878
– (Real Estate/Personal Prop Taxes)
• Family Living/Non-Farm Expenses* $70,573
– (Inc. Taxes & Purch. Of Non-Farm Assets)
*Partially reported
Total Annual Spending Within the Community or Service Area by the Average Missouri FBMA Farm…........................ $660,419