Farm Business Management -- Reports -- State-wide Minnesota 2003

	Avg. Of
	All Farms	20 - 40%	40 - 60%	60 - 80%	High 20%

Number of fields	24	5	5	5	5
Number of farms	24	5	5	5	5

Acres	70.28	59.40	62.06	111.48	58.40
Yield per acre (ton)	6.73	6.02	6.79	6.93	7.94
Operators share of yield %	100.00	100.00	100.00	100.00	100.00
Value per ton	42.54	44.95	43.60	40.98	44.51
Total product return per acre	286.47	270.64	296.12	283.87	353.48
Miscellaneous income per acre	4.30	0.14	6.02	-	18.27
Gross return per acre	290.77	270.78	302.15	283.87	371.75

Direct Expenses
Fertilizer	46.43	58.56	63.08	32.65	37.90
Crop chemicals	27.17	32.81	30.81	24.23	20.67
Crop insurance	5.45	4.50	5.69	3.36	12.76
Fuel & oil	10.90	11.85	10.32	8.14	13.08
Repairs	23.22	28.11	30.02	17.42	19.39
Custom hire	3.26	-	1.26	4.64	8.64
Hauling and trucking	1.53	-	-	-	8.82
Marketing	0.18	0.10	0.89	-	-
Operating interest	3.84	7.96	5.69	1.74	2.85
Miscellaneous	0.54	-	-	0.09	2.92
Total direct expenses per acre	122.51	143.88	147.75	92.26	127.02
Return over direct exp per acre	168.26	126.91	154.39	191.61	244.72

Overhead Expenses
Custom hire	1.37	3.63	2.92	0.17	0.67
Hired labor	4.75	0.58	3.58	5.64	8.89
Machinery & bldg leases	3.05	2.54	11.07	-	3.26
RE & pers. property taxes	12.18	13.26	10.63	15.37	8.72
Farm insurance	2.87	2.69	2.37	3.43	4.06
Utilities	2.86	2.76	2.34	2.57	3.81
Dues & professional fees	0.71	0.90	0.57	-	1.19
Interest	38.65	56.52	60.00	25.42	22.71
Mach & bldg depreciation	21.27	24.92	25.42	12.46	24.55
Miscellaneous	4.46	2.75	10.72	3.41	4.15
Total overhead expenses per acre	92.15	110.55	129.62	68.46	82.01
Total dir & ovhd expenses per acre	214.66	254.43	277.37	160.72	209.03
Net return per acre	76.11	16.36	24.77	123.15	162.72

Lbr & mgt charge per acre	27.10	27.08	24.01	23.03	38.83
Net return over lbr & mgt	49.00	-10.72	0.76	100.12	123.89
Government payments	-	-	-	-	-
Net return with govt payments	49.00	-10.72	0.76	100.12	123.89

Cost of Production
Total direct expense per ton	18.19	23.89	21.76	13.32	16.00
Total dir & ovhd exp per ton	31.88	42.25	40.84	23.20	26.32
With labor & management	35.90	46.75	44.38	26.52	31.21
Total exp less govt & oth income	35.27	46.73	43.49	26.52	28.91

Est. labor hours per acre	2.45	1.86	3.31	2.09	2.97