Missouri FBMA 2008 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 1 st –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 Farms 80 Farms 122 farms 141 Farms Total Acres Owned Total Crop Acres Crop Acres Cash Rented Crop Acres Share Rented

Demographics – Operators MO 2005 MO 2006 MO 2007 MO Farms 80 Farms 122 farms 141 Farms Average Age of Operator Average Number of Years Farming

Demographics – Crop Yields MO Ag. Statistical ServiceMO FBMA Farms 2006/Avg2007/Avg2008/Avg2006/Avg2007/Avg2008/Avg Corn (bu.) Soybeans (bu.) Winter Wheat (bu.) Grain Sorghum (bu.) Hay, (T) Mixed

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 Return on Farm Equity (COST)

Operating Profit Margin (COST)

Net Farm Income (COST)

Term Debt Coverage Ratio

Capital Replacement Margin

Asset Turnover Rate (Cost)

Operating Expense Ratio

Depreciation Expense Ratio

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