Bismarck Tribune - North Dakota News - Study finds record 2007 N.D. farm income

Study finds record 2007 N.D. farm income

May 31, 2008 - 04:05:53 CDT

By JAMES MacPHERSON
Associated Press Writer

With high yields and record income, last year was one many North Dakota farmers could only dream about, a farm management specialist says.

"It was a phenomenal year, and it may be the best year a farmer will have in his career," said Andy Swenson, a farm management specialist with the North Dakota State University Extension Service. "Farm income was three to four times more than the average."

Swenson said the average net income of farms enrolled in the North Dakota Farm Business Management Program was $192,000 last year, compared with a $54,800 average in 2006 and a $61,600 average over the previous five years.

The statewide average was based on 527 farms enrolled in a farm management program, offered through schools throughout the state.

Farmers who got most of their income from crops were more successful than cattle farmers, Swenson said. Crop farms averaged $252,000 in net farm income on about 2,200 crop acres per farm, while beef farms averaged less that $42,000.

"It was a dichotomy between crop and livestock guys last year," Swenson.

Farms with an income from both beef and crop sales averaged $138,000, the study said.

Winter wheat and dry edible beans set yield records last year, while soy beans, corn, barley, sunflowers and spring wheat were at near-record levels, Swenson said.

Strong farm income also is expected this year with rising crop prices, Swenson said. But yields could be down, with the cool, dry weather at the beginning of the growing season, he said.

"My guess is that it will be a very good year - it might be asking a little much to match last year, but it will be better than average," Swenson said.

News > State

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Comments

freemarketradical wrote on Jun 3, 2008 6:32 PM:

" Rancher, I am just trying to understand. You say you both have off farm jobs, work up to 80 hours a week, and you still just barely make it ? You are sounding a little angry and defensive about the decisions you have made. "

Rancher wrote on Jun 3, 2008 4:37 PM:

" To SE Forty: Do you honestly think that we do not pay our taxes just like the next guy? I bet you get a tax return every year. Farmers are lucky to break even. TO JUSTME...For your info we drive a 1987 car and a 1995 pickup to haul our cattle, which is the newest vehicle on the farm. Now just because you ASSUME all farmer/ranchers get it all on a silver platter you should really think before you shoot your mouth off. I bet not a 1 of you that are complaining can say you put in 80 hours in 1 week like the farmers do come harvest. NOW when you put in 80 hours a week to provide the country with food only then you have the knowledge. "

Rancher wrote on Jun 3, 2008 4:26 PM:

" Get a grip. The farmer making money...after fertilizer, fuel, seed and trucking expenses, just how much do you think they make? Do not forget the insurance and loan payments. We ranch and barely make the bills even with land rent for the crop land. Not only do we ranch, but we BOTH work OFF the farm to pay the bills that go along with it. Just where do you think your food comes from? The grocery store? DO NOT assume that just because there is a farm bill that ALL farmers actually get it. You should really get your facts before spouting off. "

freemarketradical wrote on May 31, 2008 10:23 PM:

" As a nonfarming farm owner I do know what I am talking about. I am delighted with the record profits farmers are making. I am so looking foreward the lease on my farm being over this year so I can really jack up the cash rents for the next couple of years. If they don't want to pay twice the rent, no hard feelings. I will find someone that will. A rising tide lifts all boats. Lets hope the guys and gals selling seed, fertilizer, diesel and machinery and other main street business also have record profits. "

SE Forty wrote on May 31, 2008 6:40 PM:

" If it so tough then get out of the farming industry. Yea right!!! Everybody can see you people get so much help from our TAXES why would you leave farming! "

kk wrote on May 31, 2008 6:05 PM:

" where are you basing these numbers on? I can guarantee you that farmers on average are not making 252,000 a year!

I share crop and I can tell you that is not true at all-it was a better year but certainly not by those numbers "

wish you knew wrote on May 31, 2008 4:56 PM:

" I wish you all knew what you were talking about, ignorance is bliss! If you followed the average farmers around and paid his expenses with no guarantee of any return, you might feel a little different. The article you read never said a word about the small amount of money the average farmer will get from the farm program, when the grain price is a little higher. The cattle rancher is on his own. The feed price is high for him and the price has dropped the last two years. All the farmers expenses have doubled or more.
Most of the money in the farm bill is for the nutrition program, for food stamps and other programs for the poor.
Maybe if the farmers didn't raise the crops, you people could figure out what you would have to eat! "

bigpoppakdog wrote on May 31, 2008 9:34 AM:

" HOLY &^&#. Glad they have that farm bill!! "

JustMe wrote on May 31, 2008 8:40 AM:

" And if it isn't a record year, just collect from the government so that you can get that new pickup. "

ravi and ollie wrote on May 31, 2008 8:27 AM:

" The paper aught to subsidize some of these posters with a rebate check, for all the customers that are sick of their dreck. "

SE Forty wrote on May 31, 2008 5:50 AM:

" Give em some more welfare, Yea Right. "

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