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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