Red River Valley Reports For 1999

                                              TABLE - 2                                   
                                       INVENTORY CHANGES, 1999                            
                       Minnesota and North Dakota Farm Business Mgmt Education            
                                          Red River Valley                                
                                  (Farms sorted by Net Farm Income)                       

                                                     Average Of   Average Of   Average Of
                                                      All Farms     Low 20%     High 20% 
                                                     

          Number of Farms                                   211           42           42

          Net cash farm income                            72988        20340       155840

          CROPS AND FEED
            Ending inventory                             176842        85386       366170
            Beginning inventory                          159699       106207       308909
            Inventory change                              17143       -20821        57261

          MARKET LIVESTOCK
            Ending inventory                               3716          819         5916
            Beginning inventory                            3194           91         4881
            Inventory change                                521          727         1035

          ACCTS RECEIVABLE & OTHER CURRENT ASSETS
            Ending inventory                              46327        13077        96238
            Beginning inventory                           38438         9619        70531
            Inventory change                               7889         3458        25706

          PREPAID EXPENSES AND SUPPLIES
            Ending inventory                              27088        10741        46024
            Beginning inventory                           20465         8110        35086
            Inventory change                               6623         2631        10938

          ACCOUNTS PAYABLE
            Beginning inventory                           30484        28127        42393
            Ending inventory                              29547        21743        41737
            Inventory change                                937         6384          656

          Total inventory change                          33113        -7620        95596

          Net operating profit                           106101        12720       251436

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