Text Box: July 2004

(Analysis Data Continue from Page 1)

Bean Selling Price vs Expenses

Corn Selling Price vs Expenses

Spring Consultant Workshop

Each year the Iowa Farm Business Association consultants attend a spring and fall workshop as a continuation of their knowledge and skills.  The workshop consists of several days of meetings and presentations to aid them in their consulting duties to their members.

This year the spring workshop was a joint endeavor with the Illinois FBFM association and held in Moline, Illinois.  It was attended by 85 consultants/fieldmen from the Illinois and Iowa Farm Business Associations.  It was a great opportunity to see the progress of another farm business association and how their workshops compare.  It was a chance to exchange ideas and technology.

The IFBA consultants also meet in the fall to prepare for the upcoming tax season and discuss any new tax law changes that would affect their members.  The fall meetings are usually held in September.

 

Foundation News

Many of you will remember that the Farm Business Association Foundation is "putting together" a book.  The "Book" is entitled "LEGACY LANE--RURAL STORIES OF IOWA".  Early on we asked a young lady (student) from Iowa State University, Jacqui Becker, to give us some direction and ideas as to how to put this thing together.  Jacqui was a great help and got us going in the right direction.  She has since graduated from Iowa State, but her work continues to provide us direction.  We plan to have the book ready for distribution by October 1st, 2004!  Just in time for each of you to purchase a copy for yourself and a special Christmas gift for someone.

We have 68 stories that have been submitted.  Each one is terrific.  The disappointing thing is that we will not be able to use all the stories.  It means a second edition of the book at some point.  You will recognize some of the authors: Ron Stone, Paul Lasley, Rita

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1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

Accrued Net Farm  Inc.

34940

31606

60574

72767

67562

4547

37309

68096

38047

51093

64169

Total Cash Farm Income

253472

238704

276375

303536

328568

291189

309236

345826

347954

334388

392821

Total Cash Expense

198283

197394

211451

232737

259815

230775

250824

272637

277120

278031

315344

Management Return

-1795

-5483

16017

24308

15345

-47094

-3227

26162

-5269

7551

19002

NFI % T Cash Inc

13.78%

13.24%

21.92%

23.97%

20.56%

1.56%

12.06%

19.69%

10.93%

15.28%

16.34%

Gross Profits/Man Year Equiv.

125831

131335

169485

184777

192940

143067

175240

213273

203816

222001

247306

Gross Profits/$ Expense

1.3

1.27

1.45

1.46

1.41

1.07

1.22

1.36

1.21

1.29

1.3

Mach & Power Cost/acre

56.44

55.53

56.2

65.16

64.89

60.12

59.29

61.52

63.77

61.96

64.11

Mach & Power Investment/acre

196.45

185.28

202.09

196.13

208.51

222.69

217.57

217.85

217.86

233.84

232.34

Corn Yield/Acre

83

154.5

124.1

141.7

138.8

151

149

149

146

163.3

161.4

Bean Yield/Acre

31.9

52.1

44.7

46.1

48

50

47

46

46

49

35

Current Ratio CA/CL

2.57

2.34

2.673

3.059

2.742

2.101

2.189

2.535

2.37

2.288

2.43

Current Debt Ratio CL/TL

0.355

0.368

0.347

0.346

0.376

0.39

0.379

0.36

0.357

0.38

0.381

Debt to Asset Ratio TL/TA

0.261

0.268

0.228

0.233

0.226

0.314

0.309

0.292

0.291

0.296

0.286