FINANCIAL CHARACTERISTICS OF NORTH DAKOTA FARMS, 1999-2001

Swenson,   Andrew L.

FINANCIAL CHARACTERISTICS OF NORTH DAKOTA FARMS, 1999-2001

2002

Swenson, Andrew L.

The performance of over 530 North Dakota farms, 1999-2001, is summarized using 16 financial measures. Farms are categorized by geographic region, farm type, farm size, gross cash sales, farm tenure, net farm income, debt-to-asset, and age of farmer to analyze relationships between financial performance and farm characteristics. Farm financial trends for the 1992-2001 period are also presented. Financial performance in 2001 declined for all 16 measures, except interest expense ratio, because of lower government subsidies, higher costs and continued low commodity prices. Financial performance in 2000 and 1999 was the highest since 1993 because low crop prices were offset by extraordinary government and crop insurance payments, good yields and improved beef cattle prices. Median net farm income was 27,729 in 2001, $45,085 in 2000 and $42,009 in 1999.

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