2008 Analysis Presentation 2008 Analysis Presentation
38
2008 Analysis Presentation 2008 Analysis Presentation This presentation is designed to show the average financial and production trends for Iowa farms. All of the farm operators th t t ib t dd t f thi t ti b f th that contributed data for this presentation are members of the Iowa Farm Business Association and received the benefit of an individual report showing how their farm data compared to h If f lh ld b fi f these averages. If you feel that you could benefit from knowing these numbers for your operation or if you know someone else who could benefit, please contact one of the l li d i f b i ll h consultants listed at www.iowafarmbusiness.org or call the IFBA State Office at 515-233-5802 for more information.
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Transcript of 2008 Analysis Presentation 2008 Analysis Presentation
2008 Analysis Presentation2008 Analysis Presentation
This presentation is designed to show the average financial and production trends for Iowa farms. All of the farm operators th t t ib t d d t f thi t ti b f ththat contributed data for this presentation are members of the Iowa Farm Business Association and received the benefit of an individual report showing how their farm data compared to h If f l h ld b fi fthese averages. If you feel that you could benefit from
knowing these numbers for your operation or if you know someone else who could benefit, please contact one of the
l li d i f b i ll hconsultants listed at www.iowafarmbusiness.org or call the IFBA State Office at 515-233-5802 for more information.
Presentation SummaryPresentation Summary
General InformationCorn Enterprise DatapSoybean Enterprise DataPork Production Data
Farrow to Finish & Feeder Pig Beef Production DataBeef Production Data
Cow/Calf & Feeder Cattle Financial DataFinancial Data
Accrued Net Farm IncomeAccrued Net Farm Income200000
160000
180000
100000
120000
140000
60000
80000
100000
20000
40000
0
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008Accrued Net Farm Income includes the value of home used products, change in inventory (both value and volume on hand will affect this), and a depreciation charge based on 10% straight line rate with a 10% salvage value on all depreciable items.
Gross Profit Per $1 of ExpenseGross Profit Per $1 of Expense1.8
1.4
1.6
1
1.2
0.6
0.8
0.2
0.4
01998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Gross Profits/$ Expense
Power Mach Cost vs Invest. CostPower Mach Cost vs Invest. Cost(Per Acre)
350
300
350
200
250
100
150
50
01998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Mach & Power Cost Mach & Power Investment
Gross Profit Per ManGross Profit Per Man500000
400000
450000
300000
350000
150000
200000
250000
50000
100000
150000
0
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Gross Profits/Man Year Equivalent
IFBA Statewide DataIFBA Statewide Data
Corn Enterprisep
Corn YieldsCorn Yields200
160
180
100
120
140
60
80
100
0
20
40
01998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Corn Yield/Acre
Avg Corn Selling PriceAvg. Corn Selling Price5
4
4.5
3
3.5
1.5
2
2.5
0.5
1
01998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Avg Selling Corn Price
Corn Production Value vs Expenses
5
4
4.5
5
3
3.5
1.5
2
2.5
0.5
1
01998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Production Value ($/bu.) Total Cash Expense ($/bu.) Depr Cost ($/bu.)
Direct Corn ExpensesDirect Corn Expenses120
100
120
60
80
20
40
0
20
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Seed Insecticide Herbicide Fertilizer & Lime Drying & Storage
IFBA Statewide DataIFBA Statewide Data
Bean EnterpriseBean Enterprise
Bean YieldsBean Yields60
50
30
40
20
30
10
01998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Bean Yield
Avg Bean Selling PriceAvg. Bean Selling Price12
10
6
8
4
6
2
01998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Avg Selling Bean Price
Bean Production Value vs Expenses
12
10
6
8
4
0
2
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Production Value ($/bu.) Total Cash Expense ($/bu.) Depr Cost ($/bu.)
Direct Bean ExpensesDirect Bean Expenses
40
30
35
40
20
25
30
10
15
0
5
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008Seed Insecticide Herbicide Fertilizer & Lime Drying & Storage
IFBA Statewide DataIFBA Statewide Data
Hog EnterprisesHog Enterprises
Farrow/Finish Feed ConvFarrow/Finish Feed Conv.3.95
3.85
3.9
3.75
3.8
3.65
3.7
3 5
3.55
3.6
3.51998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Feed Lbs/Gain
Farrow/Finish ReturnsFarrow/Finish Returns250
200
150
100
50
01998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Feed Return $100/fed
Feeder Pig ReturnsFeeder Pig Returns180
140
160
100
120
60
80
0
20
40
01998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Feed Return $100/fed
Farrow/Finish ProfitabilityFarrow/Finish Profitability60
50
30
40
20
30
10
01998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Value Cwt Feed Cost/Cwt Produced Cash Cost $/Cwt Depr Cost $/Cwt.
Feeder Pig Feed ConvFeeder Pig Feed Conv.3.6
3 4
3.5
3.3
3.4
3.1
3.2
2 9
3
2.91998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Feed Lbs/Gain
Feeder Pig ProfitabilityFeeder Pig Profitability45
35
40
45
25
30
15
20
5
10
01998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Value Cwt Feed Cost/Cwt Produced Cash Cost $/Cwt Depr Cost $/Cwt.
IFBA Statewide DataIFBA Statewide Data
Cattle EnterprisesCattle Enterprises
Cow/Calf Feed ReturnsCow/Calf Feed Returns250
200
150
100
50
01998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Feed Return $100/fed
Cow/Calf ProfitabilityCow/Calf Profitability100
80
90
100
50
60
70
30
40
50
10
20
01998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Value Cwt Feed Cost/Cwt Produced Cash Cost $/Cwt Depr cost $/Cwt.
Feeder Cattle ReturnsFeeder Cattle Returns250
200
150
100
50
01998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Feed Return $100/fed
Feeder Cattle Feed ConvFeeder Cattle Feed Conv.16
12
14
8
10
6
8
2
4
01998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Feed Lbs/Gain
Feeder Cattle ProfitabilityFeeder Cattle Profitability80
60
70
50
60
30
40
10
20
01998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Value Cwt. Feed Cost/Cwt Produced Cash Cost $/Cwt Depr Cost $/Cwt.
IFBA Statewide DataIFBA Statewide Data
Financial DataFinancial Data
Income vs Net Worth
1400000
1000000
1200000
800000
1000000
400000
600000
0
200000
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Total Net Worth Accrued Net Farm Income Nonfarm Income
Management ReturnManagement Return
140000
80000100000120000140000
20000400006000080000
40000-20000
020000
-60000-40000
Management Return takes Net Farm Income and subtracts out the following opportunity costs:4% charge on operator’s equity invested in the operation$2000/month salary for the operator’s labor$1300/month salary for operator’s family labor
Management Return vs Accrued Net F I f 2006 b Si GFarm Income for 2006; by Size Group
400000
300000
400000
200000
0
100000
1 2 3 4 5MR Avg 5173 26663 54713 89824 248980 NFI Avg 40148 79256 117942 174022 372989
0
NFI Avg 40148 79256 117942 174022 372989Size groups 1 to 5 are based on Acres:
Group 1: 0 to 320; Group 2: 321 to 479, Group 3: 480 to719, Group 4: 720 to 1299: Group 5 1299 and up
Current Ratio (CA/CL)Current Ratio (CA/CL)
4
33.5
4
22.5
0.51
1.5
00.5
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Current Ratio 2.101 2.189 2.535 2.37 2.288 2.43 2.55 2.45 2.79 3.405 3.544
This ratio looks at the net payment obligation in the next 12 month from cash or assets quickly converted to cash.
Analysis: 2.0 Excellent, 1.5 Fair, 1.0 Weak
Net Farm Income, Income before Depreciation, and I P idInterest Paid
250000
200000
250000
100000
150000
50000
0
Accrued Net Farm Income Interest Accrued Income Before Economic Depr.
Debt to Asset Ratio (TL/TA)Debt to Asset Ratio (TL/TA)
0 35
0 250.3
0.35
0.150.2
0.25
0.050.1
0.15
00 05
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Debt to Asset Ratio TL/TA 0.314 0.309 0.292 0.291 0.296 0.286 0.279 0.28 0.273 0.239 0.231
This represents the proportion of total farm assets owed to creditors, a higher ratio would be an indication of greater risk.
Analysis: <30% Excellent, 30% to 60% Fair, >60% Weak
Rate of Return on EquityRate of Return on Equity
Return on Equity (NFI-UL)/NW
0.120.140.16
q y ( )
0 060.08
0.10.12
00.020.040.06
-0.04-0.02
0
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Return on Equity (NFI-UL)/NW -0.03 0.031 0.08 0.029 0.048 0.065 0.091 0.083 0.123 0.135 0.095
Represents rate of return on your equity, ((Net Farm Income - unpaid family labor) / Total Farm Net Worth)
Analysis: >7% Excellent, 7% to 2% Fair, < 2% Weak
Rate of Return on InvestmentRate of Return on Investment
0.14
0 1
0.12
0.14
0 06
0.08
0.1
0 02
0.04
0.06
0
0.02
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Return on Investment (NFI+IN-Return on Investment (NFI+IN-UL)/TA 0.002 0.045 0.08 0.043 0.053 0.064 0.082 0.076 0.106 0.119 0.089
Represents rate of return on all assets, ((Net Farm Income + interest pd - unpaid family labor) / Total Assets)
Analysis: >7% Excellent, 7% to 2% Fair, < 2% Weak
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