ND Brochure 2006

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North Dakota Farm & Ranch Business Management Education Programs Highlights from the 2006 North Dakota Averages Overview This report includes information from 511 farms enrolled in the Farm and Ranch Business Management Education Programs located throughout the state of North Dakota. In 2006 the average farmer was 44.6 years old and had been farming for 21 years. The average farm was 2381 acres in size and spent $299,061 for cash farm expenses. In 2006 net farm income for the 511 farms enrolled in the FBM programs averaged $54,804 which was $4,803 less than the previous year when net farm income was $59,607. Crop production varied greatly in 2006 with the final results dependent on whether or not rains were received on a timely basis. Increases in crop prices helped add to the profit for the year, however, this increase was offset to a certain extent by increases in energy prices and the fact that some farmers had sold large quantities of their crops at lower prices. Our Mission To provide lifelong learning opportunities in economic and financial management for adults involved in the farming and ranching business.

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Highlights from the 2006 North Dakota State Averages

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Highlights from the 2006 Red River Valley (Region 1) Averages

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Highlights from the 2006 North Central North Dakota (Region 2) Averages

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Region 2 Statement of Cash Flows for 2006 Average Low High Gross Farm Income $312,897 $225,525 $481,769 Non Farm Income $23,502 $28,472 $21,121 Cash Farm Expenses $265,725 $222,092 $385,771 Family Living Expense $40,512 $33,227 $53,473 Income & SS Taxes $5,188 $3,823 $8,396 Net Capital Purchases $49,699 $43,188 $90,645 Money Borrowed $264,801 $229,547 $392,355 Principal Payments $242,101 $186,867 $367,261

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Highlights from the 2006 South Central North Dakota (Region 3) Averages

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Highlights from the 2006 South Western North Dakota (Region 4) Averages

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For More Information If you would like a complete average book or additional information please contact your local FBM program or the North Dakota Agricultural Education Supervisor at 701-328-3162. You can also find more detailed information by checking out our web site at (www.ndfarmmanagement.com) or the FINBIN web site at (www.finbin.umn.edu).