2016 Ohio Farm Business Summary · 2018-02-15 · operator to dial 614-292-6181. Page 2 2016 Ohio Farm Business Analysis ... Benchmark Reports follow the enterprise summary when available

OHIO STATE UNIVERSITY EXTENSION

2016 Ohio Farm Business Summary Crop Enterprise Analysis with

Benchmark Reports

Our Thanks To:

The professionals who worked with farms and completed the analyses included in this summary:

Christina Benton, Program Assistant, Ohio State University Extension Don Garrett, Ag Data Solutions Dianne Shoemaker, Field Specialist, Ohio State University Extension Haley Shoemaker, Program Coordinator, Ohio State University Extension Tom Weygandt, Tweyg Consulting, Ltd. Tom Ackerman, Farm Benchmarking Project Consultant, Wilmington, Ohio

The Center for Farm Financial Management at the University of Minnesota for selected text.

Historic weather data and graphics provided by: Aaron B. Wilson, Byrd Polar & Climate Research Center, State Climate Office of Ohio, The Ohio State University Jim Noel, NOAA/NWS/Ohio River Forecast Center

This project was supported by the “Competitive Benchmarking: Assisting NY and Ohio Livestock Producers to Increase Profitability and Manage Risk in a Volatile Environment” (GRT00035736) Grant from the USDA National Institute of Food and Agriculture.

The tables in this report were created using FINPACK and RankEm, copyrighted software of the Center for Farm Financial Management, University of Minnesota.

Dianne Shoemaker, Field Specialist, Dairy Production Economics

Ohio State University Extension. [email protected]

For information on participating in the Ohio Farm Business Analysis program to analyze your

farm’s performance, visit our web site at: http://farmprofitability.osu.edu/

This data is the property of The Ohio State University and should not be reproduced without permission.

© The Ohio State University, 2018

Ohio State University Extension embraces human diversity and is committed to ensuring that all research and related educational programs are available to clientele on a nondiscriminatory basis without regard to age, ancestry, color, disability, gender identity or expression, genetic information, HIV/AIDS status, military status, national origin, race, religion, sex, sexual orientation, or veteran status. This statement is in accordance with United States Civil Rights Laws and the USDA.

Roger Rennekamp, Associate Dean and Director, Ohio State University Extension

For Deaf and Hard of Hearing, please contact Ohio State University Extension using your preferred communication (e-mail, relay

services, or video relay services). Phone 1-800-750-0750 between 8 a.m. and 5 p.m. EST Monday through Friday. Inform the operator to dial 614-292-6181.

mailto:[email protected]

http://farmprofitability.osu.edu/

Page 2

2016 Ohio Farm Business Analysis

Table of Contents

Pages

Overview ............................................................................................................. 4‐9

2016 Weather Summary ........................................................................................... ……..5-6

Crop Yields and Prices……………………………………………………………………………………………7

Crop Benchmark Reports ..........................................................................................7-9

Benchmark Reports....................................................................................................9

Crop Enterprise Analysis.................................................................................... 10‐34

Corn Harvested as Dry Shell Corn ............................................................................. 10‐13

Corn on Owned Land,

Average of all Farms Sorted by Net Return ..................................................... 10

Corn Benchmark Report on Owned Land ......................................................... 11

Corn on Cash Rented Land

Average of all Farms and High 20% by Net Return ......................................... 12

Corn Benchmark Report on Cash Rented Land… .............................................. 13

Corn Silage.................................................................................................................. 14‐17

Corn Silage on Owned Land


Corn Silage Benchmark Report on Owned Land… .......................................... 15

Corn Silage on Cash Rented Land


Corn Silage Benchmark Report on Cash Rented Land………………………………….. 17

Hay…………………………………………………………………………………………………………………………. 18‐22

Alfalfa Hay, Average of all Farms on Owned Land………………………………………. 18

Alfalfa Hay, Average of all Farms on Cash Rented Land……………………………… 19 Alfalfa Hay Benchmark Report on Cash Rented Land……………………………….. 20

Mixed Hay, Average of all Farms on Owned Land………………………………………. 21

Mixed Hay, Average of all Farms on Cash Rented Land………………………………. 22

Page 3

Soybeans...................................................................................................................... 23‐26

Soybeans on Owned Land

Average of all Farms Sorted by Net Return… .................................. 23

Soybeans Benchmark Report on Owned Land ................................ 24

Soybeans on Cash Rented Land

Average of all Farms and High 20% Sorted by Net Return .............. 25

Soybeans Benchmark Report on Cash Rented Land ........................ 26

Wheat, Winter ................................................................................................. 27‐29

Wheat, Winter on Owned Land, Average of all Farms ......................... 27

Wheat, Winter on Cash Rented Land, Average of all Farms…………… 28

Wheat, Winter Benchmark Report on Cash Rented Land……………….29

Benchmark Reports, All Tenures (Owned, Cash Rented)………………………………… 30-34

Corn Benchmark Report……..…………………………………………………………..30

Corn Silage Benchmark Report…..………………………………………………….. 31

Hay, Alfalfa Benchmark Report……..………………………………………………..32

Soybean Benchmark Report…………………………………………………………….33

Wheat, Winter Benchmark Report ………….………………………………………34

Appendix 1, Crop Enterprise Analysis Procedures and Measures…………………… 35-36

Page 4

2016 Ohio Crop Enterprise Summary

42 farms with 27,733 crop acres participated in the 2016 Ohio Farm Business Analysis and Benchmarking Program. These farms provided detailed financial and production data to complete a whole farm analysis. 38 of the farms also completed an enterprise analysis for their crop enterprises. Farms ranged in size from 40 crop acres to more than 1,900 crop acres. The seven largest farms farmed an average of 1,511 acres each.

The 2016 summary contains enterprise reports for corn harvested as dry shell corn and corn silage, alfalfa hay, mixed hay, soybeans and winter wheat harvested as grain. Results are reported by land tenure – for owned acres and for cash rented acres. While there are some share‐rented acres, there are not enough to generate individual reports. When data for more than 20 farms is available, the enterprise summary includes the average for all farms, and the average for the high 20% of farms based on net return per acre.

When data from 12 or more farms is available, a benchmark report is also generated by crop and land tenure (owned, cash rented, or share rented). Following the wheat enterprise summary are combined benchmark reports for corn, corn silage, alfalfa hay, soybeans, and wheat combining data for all land tenures into one benchmark report.

Participating Farms

In 2016 all farms were located in 17 Ohio Counties.

Figure 2: Locations of the 42 Ohio farm businesses participating in 2016

Page 5

2016 – The Year in Review

Weather ‐ Jim Noel, NOAA/NWS/Ohio River Forecast Center

Across Ohio, 2016 brought warm and humid weather. Actually, it was one of the most humid years on record, and we set some of the warmest overnight minimum temperatures during the main growing season.

During 2016, rainfall was considered near normal overall. In comparison to 2015, which was one of the wettest years on record, 2016 was relatively normal.

In regards to temperature, 2016 was a much warmer year than 2015. 2015 was the 23rd warmest year on record while during 2016, we moved up to the 3rd warmest year on record.

Breaking it into seasons, winter of 2016 for Ohio was near normal for temperatures and slightly wetter than normal for precipitation. Moving into the spring planting season, Ohio saw temperatures above normal with near normal rainfall. Ohio temperatures ranked 13th warmest out of 122 years. During the summer growing season, the most notable temperature patterns were the overnight minimum temperatures. The average daily temperature was the 2nd warmest on record and maximum temperatures were the 17th warmest on record for over 122 years. Over that same 122 year stretch, 2016’s summer minimum temperatures reached the warmest on record for Ohio.

Rainfall was considered normal in the summer of 2016, as well as the fall. Fall harvest season was the 2nd warmest on record, and during this time, northwest Ohio set a new record for warm temperatures. Rainfall was slightly below normal in southern areas and slightly above in the north and northeast sections, averaging out to near normal.

In summary, there were ups and downs throughout 2016 but the main theme, thanks to a very strong El Nino, was Ohio’s record-breaking temperatures. Overall, it was the 3rd warmest year on record with most of the year being very warm. This was driven by high humidity and record high minimum temperatures.

Source: National Climactic Data Center

Page 6

Each year, no matter the statewide weather conditions, at least one of the farms participating in the analysis experiences local weather conditions that cause a steep decline in crop yields and/or late or prevented planting. This may cause farms that are otherwise profitable to experience a year of declines in working capital resulting from a decline in crop sales and inventories as well as lower profitability resulting from reduced crop sales. Lower crop yields increase the crops’ cost of production as total costs are divided by lower yields. This situation is then compounded by the need to purchase additional feed to compensate for lower raised feed production if the farm has livestock enterprises.

2016 – Ohio Regional Temperature Rankings

Source: Byrd Polar and Climate Research Center/ Polar Meteorology Group

Page 7

Crop Yields and Prices

Ohio Crop Yields and Marketing Year Prices as reported by the USDA

National Agricultural Statistics Service in the Ohio Annual Bulletin

(September 2016)

Corn Yield bu/acre

Corn Price $/bu1

Soybean

Yield bu/acre

Soybean Price

$/bu1

Wheat Yield bu/acre

Wheat Price $/bu1

Alfalfa Hay tons/ac

Alfalfa Hay $/ton1

2011 153 6.44 48 13.00 57 6.73 3.4 183

2012 120 7.09 45 14.60 68 7.94 2.8 231

2013 174 4.41 49.5 13.00 70 6.54 3.5 194

2014 176 3.78 52.5 10.30 74 5.60 3.5 175

2015 153 3.80 50 9.16 67 4.57 2.9 158

2016 159 3.60 54.5 9.65 80 4.20 3.4 180

1Marketing year average price https://www.nass.usda.gov/Statistics_by_State/Ohio/Publications/Annual_Statistical_Bulletin/Ohio%20b

ulletin%202016-2017.pdf

Crop Enterprise Analysis Reports

The Crop Enterprise Analysis reports show the average physical production, gross return,

direct costs, overhead costs, and net returns per acre. There are potentially two analyses

for each crop depending on the farmers' tenure on the land: owned land and cash rented

land. Information is presented for the average of all farms and the high 20% sorted by net

return per acre. Not all crop enterprises include a high 20% breakout depending on the

total number of farms in the enterprise.

Benchmark Reports follow the enterprise summary when available (data from 12 or more farms). Benchmark Reports include information on 38 income, expense, and efficiency measures from the associated crop enterprise analysis. Information on how to use the benchmark reports is included on page 9.

Gross Return per Acre includes the value of the crop produced plus any other income

directly associated with production of the crop, including LDP payments, crop insurance

proceeds and any disaster payments that might have been received. It does not include

government payments (see Net Return with Government Payments).

http://www.nass.usda.gov/Statistics_by_State/Ohio/Publications/Annual_Statistical_Bulletin/Ohio%20b

http://www.nass.usda.gov/Statistics_by_State/Ohio/Publications/Annual_Statistical_Bulletin/Ohio%20b

Page 8

The Value per Unit is assigned by the producer. For cash crops, the value is based on

the actual sales price for production sold or contracted before year-end and the inventory

value for crops still in inventory at year-end.

Net Return per Acre is the amount contributed toward operator labor, management, and

equity capital. Any wages and benefits paid to the operator are removed from labor costs

(and added to the Labor and Management Charge) so that all farms are on equal

footing. Land costs include land rent on the rented land enterprises but only actual

interest paid and real estate taxes on owned land. For this reason, net returns from

owned and rented land should not be compared.

Net Return with Government Payments is the net return per acre after decoupled

government payments such ARC-CO or PLC have been added. These payments are

generally allocated evenly per acre across all crops except vegetables and pasture.

Net Return over Labor and Management is the return, including government payments,

remaining after compensating the operator for unpaid labor and management. This is the

per acre return to equity capital.

Labor and Management calculation:

Management is calculated at 5% of the Value of Farm Production (VFP)

Labor is valued at $13.50 per hour for 3,000 hours annually (dairy or swine)

2,500 hours annually (crop or livestock)

Example: Management at 5% x $900,000 VFP = $45,000 Labor of 2,500 hrs x $13.50 = $33,750 Value of Labor and Management $78,750

Cost of Production shows the average cost per unit produced in each cost category.

Total Direct and Overhead Expense per Unit is the breakeven price needed to cover

cash costs and depreciation.

Less Government and Other Income is the breakeven price if government payments

and any miscellaneous income are used to offset some expenses.

With Labor and Management is the breakeven price to provide a labor and

management return for the operator(s).

Machinery Cost per Acre includes fuel and oil, repairs, custom hire, machinery lease

payments, machinery depreciation, and interest on intermediate debt.

Benchmark Reports

Benchmark Reports follow the enterprise summary when available (data is available from 12 or more farms). Benchmark Reports include information on 38 income, expense, and efficiency measures from the crop enterprise analysis.

These reports allow farms to compare their performance against other Ohio farms. The farms that complete an analysis receive benchmark reports personalized for their farm. These reports include their farm’s numbers in a “My Farm” column next to the Group Median column, and corresponding percentiles are highlighted for each of the 38 items. Managers can quickly see where they are doing well and where they have opportunities for improvement.

The Benchmark Reports are generated using the RankEm© software from the University of Minnesota’s Center for Farm Financial Management. Benchmark reports include the median value (half of the data points were higher, half of the data points were lower – which will frequently be at least slightly different from the average) for each of the 38 income, expense and efficiency measures. For each measure, the corresponding data is sorted from lowest to highest. Then the median value of for each 10% grouping of the data set is sorted into the 10%, 20%, 30%...100% columns of the table.

Each line is calculated separately. In other words, the 10% column does not represent the bottom 10% of all farms, nor does the 100th percentile group include only the top performing farms. An individual farm may be in the 80th percentile for Gross Return, but in the 30th percentile for seed cost. Typically, a farm’s values will be scattered in multiple percentile groups (columns) across the chart.

Page 9

Crop Enterprise Analysis

(Farms Sorted By Net Return)

Corn on Owned Land

Avg. Of

All Farms

Number of farms 15

Acres 108.94 Yield per acre (bu.) 147.88 Operators share of yield % 100.00 Value per bu. 3.50 Total product return per acre 517.91 Crop insurance per acre 11.11 Gross return per acre 529.01

Direct Expenses

Seed 103.37 Fertilizer 132.84 Crop chemicals 47.84 Crop insurance 6.09 Drying expense 1.52 Storage 0.97 Packaging and supplies 1.02 Fuel & oil 25.35 Repairs 52.71 Custom hire 18.00 Hired labor 29.89 Machinery leases 0.92 Utilities 5.19 Hauling and trucking 1.45 Operating interest 5.29 Miscellaneous 7.99

Total direct expenses per acre 440.45 Return over direct exp per acre 88.56

Overhead Expenses

Hired labor 13.74 RE & pers. property taxes 28.39 Farm insurance 12.18 Utilities 0.96 Dues & professional fees 5.43 Interest 46.94 Mach & bldg depreciation 51.22 Miscellaneous 14.51

Total overhead expenses per acre 173.37 Total dir & ovhd expenses per acre 613.82 Net return per acre -84.81

Government payments 23.04 Net return with govt pmts -61.77 Labor & management charge 68.75 Net return over lbr & mgt -130.52

Cost of Production

Total direct expense per bu. 2.98 Total dir & ovhd exp per bu. 4.15 Less govt & other income 3.92 With labor & management 4.38

Net value per unit 3.50 Machinery cost per acre 149.49 Est. labor hours per acre 5.08

2016 Annual Report Page 10 © 2017 The Ohio State University

Corn 2016; Owned Land

Benchmark Report, 16 Enterprises

Group

Median

Count

Yield per acre (bu.) 150.40 16

Value per unit 3.41 16

Total product value 518.86 16

Gross return 543.85 16

Seed 103.97 16

Fertilizer 114.27 16

Crop chemicals 46.61 16

Fuel & oil 21.76 16

Repairs 45.25 16

Utilities 5.18 13

Operating interest 5.27 15

Miscellaneous 5.45 11

Total direct expenses 422.55 16

Return over direct expenses 102.85 16

Hired labor1

0.00 12

Real estate taxes 23.73 16

Farm insurance 9.10 16

Utilities1

0.00 14

Dues & professional fees 3.55 16

Interest on interm. debt 5.22 14

Interest on lng term debt 65.32 12

Machinery depreciation 44.42 16

Building depreciation 5.04 15


Total overhead expenses 194.31 16

Total dir & ovhd expenses 623.01 16

Net return -112.03 16

Government payments 22.38 16

Net return with govt pymts -104.20 16

Labor & management charge 69.41 16

Net return over lbr & mgt -154.84 16

Direct cost of prod per unit 2.85 16

Dir & ovhd cost of prod/unit 4.22 16

COP less govt & other income 3.90 16

Cost of prod with lbr & mgt 4.46 16

Machinery cost per acre 148.84 16

Est. labor hours per acre 4.64 16

RankEm

10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

93.00 110.00 114.09 139.97 148.36 152.90 161.57 173.80 175.36 179.79

3.00 3.15 3.30 3.30 3.40 3.46 3.50 3.56 3.75 3.85

306.90 363.00 399.32 445.22 496.11 531.88 578.09 592.80 596.75 673.86

306.90 363.00 445.22 496.11 531.88 563.22 584.48 596.04 624.25 673.86

134.55 133.70 117.98 112.95 107.62 101.94 95.39 83.23 66.39 60.00

278.53 204.06 192.76 139.86 119.87 106.82 89.07 87.41 72.73 17.33

94.52 71.38 67.14 55.43 50.00 43.21 33.74 19.57 12.08 10.91

53.57 38.63 35.24 27.80 23.44 20.67 19.18 15.61 11.64 9.91

83.75 79.99 73.37 58.60 46.68 43.42 37.67 25.75 19.71 13.09

9.83 7.60 6.96 6.51 5.87 4.98 3.79 2.79 2.43 1.90

11.52 7.71 6.51 6.21 5.53 4.18 2.68 1.59 1.04 0.75

31.34 28.58 26.91 11.04 9.74 4.60 2.46 0.62 0.01 0.01

599.87 501.64 493.29 485.50 447.78 405.26 373.06 355.19 336.69 336.69

-54.11 -6.61 9.28 60.64 91.93 104.09 119.08 171.64 220.25 234.04

59.93 59.93 59.56 0.00 0.00 0.00 0.00 0.00 0.00 0.00

170.67 61.59 42.60 29.64 24.99 23.06 21.66 17.67 10.90 0.57

27.07 22.04 14.70 12.46 9.82 6.99 4.10 2.79 2.00 0.73

5.59 5.22 1.48 0.74 0.00 0.00 0.00 0.00 0.00 0.00

21.02 8.50 4.71 4.02 3.76 2.88 1.92 1.44 0.85 0.69

12.08 10.91 10.86 10.21 6.57 4.63 3.05 2.74 2.35 0.67

98.11 82.12 79.57 77.77 68.24 62.61 53.91 50.08 37.08 5.30

185.29 86.12 65.62 51.65 45.77 43.22 33.98 20.79 11.02 9.61

22.11 20.00 17.01 8.59 6.86 3.97 1.51 0.81 0.28 0.07

34.60 19.13 17.69 12.81 7.75 6.64 6.24 3.15 2.53 0.41

261.24 260.81 253.50 220.56 201.29 175.15 147.17 112.56 96.62 37.93

860.69 739.76 709.53 646.67 632.49 587.05 557.25 490.61 466.23 458.23

-251.34 -186.82 -155.93 -137.40 -119.59 -105.10 -44.92 5.99 66.77 115.13

0.00 0.00 0.00 0.00 8.75 33.09 44.54 49.90 57.47 77.45

-251.34 -162.37 -123.90 -108.17 -105.60 -89.85 -30.59 39.28 124.24 164.45

245.71 112.53 101.39 85.18 73.84 68.16 63.52 44.61 24.61 24.61

-294.04 -272.92 -213.62 -194.15 -162.27 -147.74 -127.37 -52.04 21.20 96.60

4.56 3.88 3.44 3.32 3.06 2.83 2.62 2.39 2.29 2.20

6.30 6.00 5.15 4.55 4.26 4.05 3.70 3.34 3.11 3.05

6.00 4.69 4.43 4.30 3.97 3.85 3.61 3.10 2.79 2.67

6.46 5.81 5.24 4.83 4.56 4.25 3.98 3.69 3.27 3.23

288.26 173.37 167.07 154.28 151.44 142.21 136.03 131.28 117.41 82.22

9.95 9.84 8.12 6.22 4.72 4.37 3.66 3.42 2.95 0.63

RankEm © University of Minnesota

Page 11

1 Hired labor and utilities are included in total direct expenses in the Ohio Summary

Refer to page 9 for information on how to use benchmark reports



Corn on Cash Rented Land

Avg. Of Number of farms

All Farms

23

High 20%

5

Acres 151.31 159.75

Yield per acre (bu.) 157.15 162.85 Operators share of yield % 100.00 100.00 Value per bu. 3.66 3.87 Total product return per acre 575.75 630.02 Crop insurance per acre 18.80 30.10 LDP income per acre 1.55 6.74 Gross return per acre 596.10 666.86

Direct Expenses

Seed 90.74 73.63 Fertilizer 143.80 124.28 Crop chemicals 44.85 36.43 Crop insurance 16.83 3.73 Drying expense 2.06 2.92 Storage 2.85 0.34 Packaging and supplies 1.87 - Fuel & oil 21.99 12.26 Repairs 55.80 36.20 Custom hire 17.08 26.85 Hired labor 12.54 5.20 Land rent 112.51 127.91 Machinery leases 6.56 3.16 Utilities 4.77 1.19 Hauling and trucking 4.29 7.77 Operating interest 3.81 2.68 Miscellaneous 5.99 9.31

Total direct expenses per acre 548.33 473.86 Return over direct exp per acre 47.77 193.00

Overhead Expenses

Hired labor 13.53 2.14 Building leases 1.52 6.58 Farm insurance 10.36 6.85 Utilities 1.70 2.43 Dues & professional fees 6.52 2.78 Interest 5.14 3.03 Mach & bldg depreciation 65.16 39.92 Miscellaneous 10.36 3.90

Total overhead expenses per acre 114.29 67.63 Total dir & ovhd expenses per acre 662.62 541.49 Net return per acre -66.52 125.37

Government payments 24.98 23.55

Net return with govt pmts -41.54 148.92 Labor & management charge 84.60 75.38 Net return over lbr & mgt -126.14 73.54

Cost of Production

Total direct expense per bu. 3.49 2.91 Total dir & ovhd exp per bu. 4.22 3.33 Less govt & other income 3.93 2.95 With labor & management 4.47 3.42

Net value per unit 3.67 3.91

Machinery cost per acre 159.02 114.58 Est. labor hours per acre 4.52 4.10


Corn 2016; Cash Rented Land


Group Median

Count




Crop insurance 0.00 5


Seed 96.55 24




Fuel & oil 22.61 24

Repairs 46.68 24

Custom hire 29.98 17

Land rent 91.84 24





Hired labor1

0.00 16


Utilities1

0.00 20








Net return -88.95 24


Net return with govt pymts -56.25 24









RankEm

10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

99.50 122.46 134.14 145.00 150.00 157.75 164.41 175.02 177.58 199.09

3.08 3.30 3.30 3.40 3.50 3.62 3.75 3.82 3.93 4.08

346.90 415.95 445.22 478.50 525.00 578.69 607.54 654.91 665.75 745.55

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

373.53 452.80 476.42 512.72 538.77 595.32 624.25 665.75 723.76 777.18

127.95 116.69 111.53 106.01 100.42 94.98 84.94 66.43 60.05 44.04

260.90 199.80 186.93 123.79 116.29 100.95 91.59 89.07 87.41 45.03

87.34 79.61 69.33 63.17 51.53 43.21 36.08 29.09 12.98 8.22

73.80 31.67 22.99 20.03 13.63 9.60 8.65 7.90 5.74 0.51

50.24 39.69 36.26 26.42 23.58 21.17 20.30 14.27 11.94 7.68

134.17 88.90 79.79 64.23 50.79 44.97 36.25 30.55 23.85 19.71

98.05 50.98 41.06 33.49 31.42 29.48 28.06 20.35 14.20 10.39

227.46 175.64 144.50 130.89 100.00 87.70 72.98 67.56 49.61 34.90

13.43 11.50 7.79 6.21 5.06 3.86 3.34 2.83 2.19 1.06

31.34 28.58 17.81 9.56 6.77 4.18 3.45 1.70 0.23 0.01

704.47 657.27 639.35 566.42 524.99 491.99 478.15 467.69 424.05 408.40

-173.24 -87.55 -41.18 0.01 9.03 30.33 82.29 117.86 196.60 274.05

59.93 59.93 42.13 16.14 3.65 0.00 0.00 0.00 0.00 0.00

21.67 13.29 11.06 9.01 7.65 7.12 6.13 5.00 3.51 2.76

7.46 4.33 2.24 1.37 0.52 0.00 0.00 0.00 0.00 0.00

15.98 8.11 5.13 3.99 3.39 2.49 1.92 1.86 1.20 0.79

19.20 11.47 10.21 6.07 4.51 2.92 2.77 2.72 2.14 0.71

139.40 86.89 65.62 53.69 44.42 42.02 31.93 29.50 22.15 11.74

69.64 21.06 13.13 10.29 8.05 6.00 3.18 2.59 1.51 0.41

29.85 15.49 13.34 9.93 7.75 6.49 6.16 3.15 2.53 0.66

229.16 185.77 132.55 98.35 90.35 89.29 67.11 61.25 54.57 38.82

882.28 771.34 744.26 725.72 605.16 567.45 562.34 541.25 519.31 477.51

-292.04 -194.90 -158.86 -134.53 -99.90 -61.28 -37.34 37.48 121.07 207.35

0.00 0.00 0.00 0.00 0.00 33.17 40.11 47.48 50.54 67.46

-257.73 -181.10 -137.54 -118.51 -94.10 -47.97 20.13 62.96 140.10 207.35

233.52 146.18 115.26 89.18 80.04 68.47 48.24 39.90 33.01 24.61

-349.37 -290.60 -254.94 -242.13 -165.17 -118.71 -59.42 10.46 58.57 147.18

5.27 4.27 4.03 3.76 3.60 3.45 3.27 2.87 2.79 2.60

6.94 5.14 4.70 4.58 4.18 4.12 3.64 3.47 3.18 3.02

6.04 4.70 4.48 4.25 3.96 3.71 3.48 3.18 2.96 2.52

6.70 5.77 5.28 5.04 4.44 4.29 3.87 3.67 3.36 2.86

321.21 237.49 208.30 165.13 155.53 150.19 136.89 123.48 102.58 84.68

9.90 8.77 7.13 6.40 4.73 4.59 4.17 3.42 2.78 1.50


Page 13





Corn Silage on Owned Land

Avg. Of

Number of farms

All Farms

23

High 20%

5

Acres 112.90 95.55

Yield per acre (ton) 20.43 22.49 Operators share of yield % 100.00 100.00 Value per ton 40.12 41.28 Total product return per acre 819.72 928.12 Crop insurance per acre 10.21 21.58 Gross return per acre 829.93 949.70

Direct Expenses

Seed 101.20 82.01 Fertilizer 106.19 106.60 Crop chemicals 43.16 33.90 Non-chemical crop protect 3.18 17.29 Crop insurance 6.94 21.70 Storage 2.14 4.69 Packaging and supplies 2.06 - Fuel & oil 32.59 33.62 Repairs 69.80 43.04 Custom hire 109.18 16.68 Hired labor 27.43 10.18 Machinery leases 5.53 12.42 Utilities 4.59 2.68 Hauling and trucking 1.14 - Operating interest 4.89 3.22 Miscellaneous 10.01 2.54


Overhead Expenses

Hired labor 19.35 33.10 RE & pers. property taxes 27.53 25.19 Farm insurance 10.07 5.78 Utilities 0.59 0.81 Dues & professional fees 2.86 3.52 Interest 67.84 46.48 Mach & bldg depreciation 70.59 43.12 Miscellaneous 13.22 8.10

Total overhead expenses per acre 212.07 166.10 Total dir & ovhd expenses per acre 742.10 556.68 Net return per acre 87.83 393.02


Net return with govt pmts 118.48 473.12 Labor & management charge 91.62 66.07 Net return over lbr & mgt 26.86 407.05

Cost of Production

Total direct expense per ton 25.94 17.37 Total dir & ovhd exp per ton 36.32 24.76 Less govt & other income 34.32 20.24 With labor & management 38.81 23.17




Corn Silage 2016; Owned Land


Group

Median

Count

RankEm

10% 20% 30% 40% 50% 60% 70% 80% 90% 100%


14.10 15.00 17.07 18.00 19.50 20.25 20.69 22.28 23.76 25.20

34.00 36.25 37.50 39.00 40.00 40.00 40.00 41.00 43.75 47.50

572.73 640.54 687.75 715.83 720.00 775.86 813.33 869.86 891.71 1,133.93

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

572.73 640.54 704.00 724.04 775.86 810.03 869.72 877.59 922.29 1,133.93

142.96 134.12 119.96 115.71 109.24 98.13 86.54 80.12 66.42 55.81

216.64 145.88 133.19 120.92 111.27 102.84 90.00 87.41 70.45 31.64

90.10 78.39 67.14 55.52 50.00 43.21 30.89 23.34 12.98 8.22

73.13 51.15 41.48 36.69 33.04 26.98 24.60 22.18 17.03 7.00

138.25 102.45 94.07 89.32 64.36 49.06 42.55 37.11 20.95 15.02

293.37 239.97 184.78 150.40 131.83 96.91 50.70 45.33 33.39 28.27

18.25 12.57 8.50 6.94 6.43 4.83 3.09 2.49 0.98 0.45

31.34 28.78 25.74 10.39 6.77 4.69 3.46 2.43 1.43 0.01

759.87 702.32 665.68 581.58 512.83 486.05 456.74 402.38 369.21 355.79

97.40 143.75 162.99 175.46 216.46 256.88 334.46 368.24 426.86 619.00

131.97 65.38 1.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00

80.56 38.33 29.26 26.59 23.95 22.69 20.73 18.49 16.81 5.73

20.89 15.47 14.21 13.57 10.72 7.77 5.88 4.14 3.18 1.71

4.76 1.93 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

9.38 5.70 4.73 4.22 3.79 2.83 2.08 1.61 1.16 0.70

13.18 11.90 11.61 10.17 6.75 4.93 3.45 3.13 2.78 1.15

126.05 99.23 80.84 74.47 64.09 60.07 51.99 40.42 30.43 23.06

176.08 65.49 60.02 55.34 48.46 36.75 31.91 22.68 12.91 7.77

50.81 20.30 15.96 12.36 8.75 5.50 3.05 1.80 0.72 0.19

41.00 22.50 20.08 15.38 10.69 8.45 6.99 5.90 4.27 2.18

371.76 261.36 221.74 202.85 167.06 148.21 133.79 117.23 85.56 45.61

968.85 902.04 870.11 780.26 711.88 660.88 586.38 572.76 502.76 442.62

-167.04 -34.44 -6.01 3.46 35.05 134.89 177.00 185.10 266.04 442.49

0.00 0.00 0.00 0.00 0.00 17.49 38.92 47.48 53.98 103.55

-160.09 -9.32 11.46 33.54 88.12 134.89 184.84 223.44 290.70 537.23

361.17 229.75 149.43 121.35 97.29 84.35 74.69 66.95 55.87 25.75

-343.23 -196.21 -132.19 -80.41 -73.21 21.45 72.44 132.60 239.06 464.73

34.72 31.99 31.37 29.51 28.28 27.13 25.28 24.15 19.49 15.87

50.89 42.27 40.98 39.36 38.89 37.94 32.58 29.74 24.66 22.87

50.89 41.85 38.41 37.91 36.42 32.63 29.76 26.75 21.91 19.16

61.10 49.72 46.34 45.31 42.75 40.46 35.53 31.25 26.65 21.57

509.32 420.54 385.94 316.94 290.97 196.91 185.94 168.67 148.14 121.59

22.69 15.16 14.54 10.80 8.85 7.20 5.15 4.56 3.76 1.88

Yield per acre (ton) 20.00 23





Seed 100.42 23



Fuel & oil 28.82 23

Repairs 56.90 23






Hired labor1

0.00 17



Utilities1

0.00 20









Net return 133.62 23


Net return with govt pymts 133.62 23









Page 15





Corn Silage on Cash Rented Land


All Farms

16

High 20%

4

Acres 221.46 70.42

Yield per acre (ton) 18.41 22.62 Operators share of yield % 100.00 100.00 Value per ton 39.38 41.92 Total product return per acre 725.18 948.39 Crop insurance per acre 14.01 - LDP income per acre 3.75 47.20 Gross return per acre 742.94 995.59

Direct Expenses

Seed 90.76 89.49 Fertilizer 102.47 114.95 Crop chemicals 38.81 43.59 Non-chemical crop protect 0.82 3.66 Crop insurance 6.55 5.41 Storage 2.20 27.62 Packaging and supplies 2.04 4.66 Fuel & oil 30.04 24.55 Repairs 64.37 41.03 Custom hire 85.73 93.73 Hired labor 30.35 5.63 Land rent 88.61 83.40 Machinery leases 9.72 0.61 Utilities 5.46 1.39 Hauling and trucking 0.65 8.07 Operating interest 4.74 5.34 Miscellaneous 9.03 1.81


Overhead Expenses

Hired labor 4.56 17.62 Farm insurance 11.82 8.71 Utilities 0.54 2.07 Dues & professional fees 3.16 2.70 Interest 4.17 2.82 Mach & bldg depreciation 88.37 43.22 Miscellaneous 18.46 4.06



Net return with govt pmts 61.33 385.79 Labor & management charge 73.75 76.03 Net return over lbr & mgt -12.42 309.76

Cost of Production

Total direct expense per ton 31.08 24.53 Total dir & ovhd exp per ton 38.20 28.12 Less govt & other income 36.05 24.87 With labor & management 40.06 28.23




Corn Silage 2016; Cash Rented Land


Group Median

Count






Seed 95.35 16

Fertilizer 92.23 16



Fuel & oil 25.81 16

Repairs 45.80 16


Land rent 88.89 16





Hired labor1

0.00 14


Utilities1

0.00 14












Net return over lbr & mgt 60.92 16







RankEm

10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

11.00 14.56 16.46 18.47 19.75 20.29 21.35 23.64 25.00 25.40

35.00 35.00 38.75 40.00 40.00 40.00 43.50 45.00 45.00 50.00

495.00 600.00 697.98 719.24 760.94 805.01 841.67 988.07 1,125.00 1,142.86

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

495.00 600.00 720.77 757.03 805.01 837.72 901.21 1,043.01 1,125.00 1,142.86

149.51 148.20 115.91 100.03 96.55 92.67 85.72 63.23 51.62 36.46

190.00 139.11 125.41 109.56 96.64 91.86 90.64 69.54 45.94 17.33

86.09 85.68 73.67 67.14 44.84 38.86 31.68 25.60 12.08 5.52

73.80 19.90 10.07 9.60 9.10 8.19 7.65 5.79 5.69 3.90

58.44 50.56 43.30 34.11 26.21 25.23 23.95 18.22 8.04 5.96

186.36 145.67 98.87 58.12 52.23 41.09 32.72 21.57 16.71 13.32

294.67 292.06 170.48 154.15 131.83 117.87 88.62 48.40 32.30 27.56

191.53 172.36 121.21 103.40 96.56 80.68 76.40 67.51 52.26 24.67

14.65 12.61 12.57 8.59 6.94 4.49 3.64 2.81 1.13 0.45

92.49 24.57 11.04 8.09 3.82 3.09 2.39 2.23 0.62 0.01

937.08 868.10 715.25 611.95 571.78 554.45 531.90 511.40 491.17 429.36

-84.74 -67.08 73.17 158.89 209.37 253.14 288.59 403.38 456.28 695.64

131.97 65.38 26.94 17.61 1.05 0.00 0.00 0.00 0.00 0.00

24.04 17.73 14.75 11.29 8.06 7.50 5.90 3.65 2.89 1.96

5.69 3.83 3.75 2.45 0.56 0.00 0.00 0.00 0.00 0.00

8.43 5.21 5.07 4.38 3.96 2.96 2.33 1.17 0.75 0.65

22.07 11.90 8.22 5.02 4.84 3.13 2.99 2.94 2.11 0.82

202.14 150.02 80.53 52.50 40.34 32.51 17.13 12.18 7.75 5.06

73.96 24.13 16.47 11.22 8.92 4.84 3.18 2.34 0.64 0.08

44.26 37.74 19.86 9.37 6.99 5.90 4.23 3.14 1.00 0.45

261.69 255.21 205.78 118.02 98.13 70.21 62.19 35.45 24.00 15.78

1,093.67 1,010.30 894.41 748.50 677.15 654.53 594.29 567.58 557.61 520.94

-194.89 -140.30 -103.48 58.17 116.27 127.86 217.56 298.34 381.46 561.18

0.00 0.00 0.00 0.00 0.00 15.16 40.73 53.99 132.00 166.24

-194.89 -94.66 -3.37 84.35 117.02 142.27 217.56 327.07 381.46 693.19

268.05 128.72 106.85 85.83 79.69 66.95 46.55 29.28 24.64 24.23

-271.53 -179.02 -126.16 -8.94 48.36 82.35 137.99 223.11 349.75 666.34

52.70 41.41 37.97 34.15 31.90 29.94 26.42 25.49 24.48 17.17

54.14 52.99 48.35 43.31 36.34 33.65 29.13 28.81 28.10 22.55

52.99 44.96 42.32 37.40 34.08 33.59 28.38 24.69 23.31 17.27

58.10 48.64 46.71 43.22 38.30 36.97 30.89 30.05 28.18 18.35

548.05 470.59 442.67 272.42 248.91 217.17 191.42 174.95 135.33 115.09

21.06 14.84 10.80 7.72 6.67 5.16 4.58 2.84 1.90 1.24


Page 17



2016 Annual Report © 2017 The Ohio State University


Ohio Farm Business Analysis Program


Hay, Alfalfa on Owned Land

Avg. Of

All Farms

Number of farms 7

Acres 71.03 Yield per acre (ton) 4.76 Operators share of yield % 100.00 Value per ton 127.90 Total product return per acre 609.32 Crop insurance per acre 2.92

Gross return per acre 612.24

Direct Expenses Seed

31.24

Fertilizer 45.74 Crop chemicals 17.97 Crop insurance 0.57 Packaging and supplies 2.01 Fuel & oil 24.75 Repairs 67.76 Custom hire 66.86 Hired labor 30.51 Machinery leases 1.42 Utilities 3.58 Operating interest 7.70 Miscellaneous 17.69

Total direct expenses per acre 317.81

Return over direct exp per acre 294.43

Overhead Expenses Hired labor

1.08

RE & pers. property taxes 23.43 Farm insurance 8.32 Dues & professional fees 1.75 Interest 57.69 Mach & bldg depreciation 45.03 Miscellaneous 7.94

Total overhead expenses per acre 145.26 Total dir & ovhd expenses per acre 463.06

Net return per acre 149.17

Government payments 20.39 Net return with govt pmts 169.56 Labor & management charge 100.52

Net return over lbr & mgt 69.04

Cost of Production Total direct expense per ton

66.71

Total dir & ovhd exp per ton 97.20 Less govt & other income 92.31

With labor & management 113.41


Page 18





Hay, Alfalfa on Cash Rented Land

Avg. Of

All Farms

Number of farms 12

Acres 152.82 Yield per acre (ton) 4.33 Operators share of yield % 100.00 Value per ton 113.79 Total product return per acre 492.39



21.57

Fertilizer 33.70 Crop chemicals 6.63 Fuel & oil 24.61 Repairs 56.74 Custom hire 52.93 Hired labor 30.25 Land rent 98.72 Machinery leases 5.29 Utilities 4.06 Operating interest 7.92 Miscellaneous 25.75




0.91

Farm insurance 10.24 Utilities 0.24 Dues & professional fees 3.30 Interest 5.07 Mach & bldg depreciation 28.92 Miscellaneous 16.63



Government payments 10.73 Net return with govt pmts 69.61 Labor & management charge 62.71



85.08




Page 19

Hay, Alfalfa 2016; Cash Rent


Group

Median

Count

RankEm

10% 20% 30% 40% 50% 60% 70% 80% 90% 100%


2.20 3.00 3.98 4.67 4.80 4.95 5.17 5.25 5.28 7.38

80.00 100.00 100.00 100.00 107.50 125.00 135.00 150.00 170.00 200.00

240.00 253.37 466.67 500.00 522.68 625.15 660.33 728.57 796.46 1,254.76

240.00 253.37 466.67 500.00 522.68 625.15 660.33 728.57 796.46 1,254.76

41.67 37.06 33.33 32.60 24.05 19.22 16.72 12.43 9.90 1.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

36.97 31.83 26.54 25.89 25.16 23.19 22.15 16.26 13.35 3.56

98.54 91.37 87.26 63.51 57.37 44.35 39.54 27.17 25.91 21.63

182.27 179.95 96.33 90.41 61.05 34.74 19.56 9.20 6.84 0.71

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

172.36 113.60 104.69 102.10 90.41 80.68 71.60 65.88 52.26 39.86

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

12.61 12.57 8.59 8.41 7.10 6.58 4.77 4.21 3.91 1.13

92.49 31.34 24.57 11.04 9.74 3.93 3.74 3.01 1.19 0.62

686.86 465.86 400.68 377.48 316.78 294.53 290.89 275.67 256.33 200.71

-68.42 41.71 51.38 52.67 132.02 246.40 337.72 362.60 505.12 979.09

25.13 10.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

24.04 14.07 11.03 10.41 7.95 7.48 6.69 5.11 3.46 1.96

3.75 1.12 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

5.21 4.38 4.33 4.05 3.59 3.21 2.56 2.06 1.99 0.75

11.90 11.37 8.22 5.02 4.84 3.24 2.94 2.56 2.11 0.82

59.06 57.15 45.84 34.83 32.24 24.16 15.65 10.48 7.75 4.16

14.69 11.24 11.20 8.78 6.21 3.32 3.04 0.81 0.80 0.08

44.26 37.74 20.87 12.86 8.69 5.44 3.91 3.51 2.77 1.00

101.59 98.56 97.73 97.71 74.80 64.16 57.95 40.75 15.78 12.34

760.07 533.06 475.20 441.43 409.57 380.10 333.62 324.20 317.44 213.05

-84.20 -31.50 -15.82 24.80 42.07 187.84 264.04 276.61 403.53 921.14

0.00 0.00 0.00 0.00 0.00 0.00 17.49 30.32 40.11 45.63

-84.20 14.13 14.50 40.32 54.36 196.59 264.04 276.61 403.53 921.14

241.46 122.75 97.29 90.95 85.83 70.95 52.62 31.71 24.23 6.16

-176.55 -108.43 -70.22 -38.12 5.38 86.56 176.73 201.92 312.58 889.44

141.41 102.81 91.10 90.07 75.91 71.42 60.87 55.08 53.94 37.35

156.49 108.07 103.06 98.67 95.87 87.35 81.02 69.54 66.80 45.20

147.09 108.07 98.67 97.20 93.66 85.55 81.02 66.80 66.23 45.20

164.46 135.31 121.51 116.14 107.42 102.26 98.87 84.65 82.51 49.50

309.99 239.63 238.64 238.41 183.51 143.29 129.65 109.32 84.36 83.74

10.74 8.72 8.36 7.08 5.76 4.99 4.14 3.68 1.90 0.23





Seed 20.64 11

Fertilizer 0.00 9

Fuel & oil 23.95 12

Repairs 52.23 12


Hired labor 0.00 8

Land rent 86.19 12

Utilities 0.00 9





Hired labor1

0.00 10


Utilities1

0.00 11



















Page 20







Hay, Mixed on Owned Land

Avg. Of

All Farms

Number of farms 6




11.93

Fertilizer 49.78 Crop chemicals 3.46 Packaging and supplies 1.49 Fuel & oil 18.22 Repairs 47.58 Custom hire 24.87 Hired labor 14.93 Machinery leases 21.93 Utilities 3.68 Operating interest 1.87 Miscellaneous 7.64




14.56

RE & pers. property taxes 20.68 Farm insurance 4.95 Utilities 0.47 Dues & professional fees 3.06 Interest 30.28 Mach & bldg depreciation 46.77 Miscellaneous 4.08



Government payments - Net return with govt pmts 130.98 Labor & management charge 82.32



44.31




Page 21





Hay, Mixed on Cash Rented Land

Avg. Of

All Farms

Number of farms 5




5.68

Fertilizer 13.05 Storage 9.94 Packaging and supplies 1.98 Fuel & oil 23.66 Repairs 34.21 Custom hire 28.89 Hired labor 9.80 Land rent 45.70 Machinery leases 1.74 Utilities 1.50 Operating interest 1.68 Miscellaneous 11.22




17.21

Farm insurance 6.69 Utilities 1.09 Dues & professional fees 2.10 Interest 4.02 Mach & bldg depreciation 57.65 Miscellaneous 4.42



Government payments - Net return with govt pmts 173.25 Labor & management charge 50.53



42.97




Page 22




Soybeans on Owned Land

Avg. Of

All Farms

Number of farms 15

Acres 112.44 Yield per acre (bu.) 54.63 Operators share of yield % 100.00 Value per bu. 9.30 Total product return per acre 508.09 Other crop income per acre 2.76 Gross return per acre 510.85

Direct Expenses

Seed 69.43 Fertilizer 66.74 Crop chemicals 37.52 Crop insurance 7.41 Storage 1.03 Packaging and supplies 1.38 Fuel & oil 12.89 Repairs 27.68 Custom hire 11.24 Hired labor 21.53 Machinery leases 0.72 Utilities 3.22 Hauling and trucking 2.73 Marketing 0.96 Operating interest 2.47 Miscellaneous 7.28


Overhead Expenses


Total overhead expenses per acre 139.23 Total dir & ovhd expenses per acre 413.46 Net return per acre 97.39

Government payments 22.02 Net return with govt pmts 119.41 Labor & management charge 47.19 Net return over lbr & mgt 72.22

Cost of Production



Page 23

Soybeans 2016; Owned Land


Group

Median

Count

RankEm

10% 20% 30% 40% 50% 60% 70% 80% 90% 100%


33.86 34.86 36.23 45.56 51.81 54.05 57.33 61.06 62.86 63.01

8.50 8.97 9.00 9.11 9.22 9.26 9.32 9.45 9.50 9.66

314.87 322.06 328.96 418.75 454.50 497.33 536.84 563.22 597.17 608.50

314.87 322.06 328.96 434.97 454.50 497.33 536.84 563.22 597.17 608.50

113.64 108.59 82.05 77.86 73.38 67.75 61.39 52.34 49.25 48.45

154.77 141.54 111.90 63.10 52.27 46.53 43.72 41.52 20.56 12.01

102.56 69.60 57.74 53.08 41.67 37.75 34.94 29.13 12.08 6.65

29.22 21.83 21.07 17.50 13.84 11.70 10.46 7.78 6.35 4.85

49.27 43.63 43.41 39.72 33.17 25.31 21.54 19.41 17.34 10.75

8.43 7.60 6.51 5.97 5.77 4.50 3.77 2.79 1.95 1.90

19.11 13.94 11.14 8.29 6.28 4.35 2.97 1.27 1.21 0.63

6.29 4.20 3.29 3.14 2.11 1.47 1.24 1.15 0.59 0.57

31.34 28.58 11.04 10.66 9.74 4.70 2.46 2.38 0.62 0.01

387.33 338.38 318.06 305.31 287.92 260.64 246.84 230.01 222.65 153.51

-23.51 69.49 131.94 170.72 185.72 216.67 247.07 281.93 309.22 372.54

170.67 53.22 39.46 29.71 26.92 25.75 23.73 22.07 16.08 0.57

14.77 13.67 8.87 6.79 5.36 4.39 3.39 2.73 1.92 1.12

3.05 2.85 0.80 0.69 0.00 0.00 0.00 0.00 0.00 0.00

11.46 10.94 4.64 2.36 1.94 1.23 1.01 0.73 0.58 0.38

18.17 6.59 5.92 5.69 4.86 2.46 1.62 1.49 1.28 0.37

82.12 77.77 71.17 65.32 59.89 53.91 42.86 25.50 23.06 5.30

101.07 46.98 40.50 31.07 27.14 23.57 17.93 15.41 13.88 5.24

111.39 12.06 10.91 6.16 4.38 3.19 2.18 1.14 0.40 0.04

10.43 8.29 6.43 6.02 4.22 4.00 3.62 2.72 1.44 0.22

283.38 219.84 173.53 159.72 152.91 119.18 104.87 77.07 53.94 20.95

607.17 589.65 490.90 433.34 411.09 395.14 354.03 321.85 278.01 263.91

-176.03 -85.41 -44.45 19.52 53.15 94.04 129.25 146.46 219.01 286.81

0.00 0.00 0.00 0.00 0.00 23.30 36.64 47.48 50.49 57.47

-176.03 -85.41 -15.36 36.11 76.37 127.28 172.01 177.50 219.01 286.81

134.03 120.73 109.03 73.24 45.41 37.86 35.55 24.33 22.18 13.42

-219.44 -199.32 -50.87 -42.57 32.02 58.83 112.32 137.13 196.84 252.71

9.99 7.16 6.36 5.87 5.49 5.05 4.64 4.23 4.12 3.74

14.50 11.44 9.68 9.27 8.12 7.34 6.84 6.37 5.19 5.11

14.50 11.44 9.21 8.63 7.64 7.01 6.13 5.43 5.19 5.11

15.19 15.14 10.70 9.91 8.65 7.73 7.26 6.73 5.65 5.60

161.95 133.89 107.15 103.42 97.69 94.56 87.33 67.22 52.51 46.44

5.43 5.37 4.92 3.98 3.01 2.53 2.10 1.65 1.45 0.34





Seed 69.00 15

Fertilizer 48.06 13


Fuel & oil 12.30 15

Repairs 26.09 15

Utilities 5.18 11

Hauling and trucking 5.42 11







Utilities1

0.00 12









Net return 77.09 15











Page 24





Soybeans on Cash Rented Land


All Farms

18

High 20%

4

Acres 193.32 118.00

Yield per acre (bu.) 53.56 59.50 Operators share of yield % 100.00 100.00 Value per bu. 9.42 9.76 Total product return per acre 504.72 580.94 LDP income per acre 0.88 6.47 Other crop income per acre 3.31 - Gross return per acre 508.90 587.41

Direct Expenses

Seed 68.34 55.12 Fertilizer 60.63 41.83 Crop chemicals 37.55 30.83 Crop insurance 7.70 3.76 Storage 1.14 3.16 Packaging and supplies 1.00 - Fuel & oil 13.39 7.15 Repairs 26.19 24.33 Custom hire 15.49 23.04 Hired labor 12.74 4.24 Land rent 121.21 125.64 Machinery leases 1.09 2.70 Utilities 3.38 1.99 Hauling and trucking 3.13 3.50 Marketing 0.40 1.12 Operating interest 2.46 1.81 Miscellaneous 4.03 3.84


Overhead Expenses

Hired labor 8.86 0.77 Building leases 0.58 4.26 Farm insurance 5.98 4.14 Utilities 0.65 0.43 Dues & professional fees 3.21 2.15 Interest 2.99 1.03 Mach & bldg depreciation 36.05 26.87 Miscellaneous 4.67 3.90



Net return with govt pmts 91.00 229.49 Labor & management charge 45.23 49.25 Net return over lbr & mgt 45.76 180.24

Cost of Production

Total direct expense per bu. 7.09 5.61 Total dir & ovhd exp per bu. 8.27 6.35 Less govt & other income 7.72 5.91 With labor & management 8.57 6.73




Soybeans 2016; Cash Rent


Group

Median

Count

RankEm

10% 20% 30% 40% 50% 60% 70% 80% 90% 100%


30.50 39.90 45.56 51.81 54.05 57.33 59.39 61.26 62.57 62.86

8.50 8.99 9.11 9.23 9.30 9.45 9.58 9.75 10.00 10.00

305.00 365.88 429.97 454.50 497.33 536.84 563.22 592.99 599.91 618.05

305.00 377.09 434.97 454.50 497.33 536.84 563.22 595.56 610.34 634.49

113.64 79.99 75.97 70.80 66.98 61.41 52.97 48.85 37.00 23.81

154.77 141.54 111.90 58.82 46.53 43.77 42.22 23.41 20.56 12.01

102.56 56.28 51.75 41.53 37.75 35.63 33.34 29.13 22.31 12.08

29.85 25.52 19.78 13.88 13.11 12.58 10.46 7.78 5.60 4.43

55.66 46.45 39.72 33.17 29.32 26.89 22.90 19.41 16.66 10.75

61.62 50.08 38.97 38.26 30.80 23.73 11.28 8.90 8.28 6.54

265.00 184.42 161.31 127.46 109.14 99.19 91.84 79.65 63.44 45.13

8.43 7.60 6.51 5.97 5.61 4.43 2.61 1.95 1.90 1.80

25.19 18.79 13.94 11.14 8.29 5.85 2.97 1.27 1.21 0.63

7.31 6.29 4.29 4.20 3.67 2.76 1.90 1.15 0.59 0.57

31.34 11.04 10.66 9.74 4.70 3.45 2.57 0.62 0.46 0.01

571.27 483.63 427.60 382.59 353.30 347.46 342.66 321.61 295.27 288.53

-43.12 -11.72 26.58 78.18 109.81 145.91 174.75 215.49 266.07 344.12

14.77 11.27 7.85 5.36 4.89 3.97 3.40 3.06 2.23 1.12

3.05 2.85 1.88 0.80 0.34 0.00 0.00 0.00 0.00 0.00

11.46 10.94 3.85 2.45 2.18 1.91 1.04 0.86 0.57 0.38

18.17 6.59 6.36 4.90 2.46 1.72 1.48 1.28 1.06 0.37

101.07 51.38 42.84 29.41 27.14 24.06 20.21 16.12 14.37 5.24

111.39 17.75 11.49 7.16 5.61 4.69 3.83 2.35 0.61 0.04

10.43 9.47 7.36 6.02 4.69 4.00 3.49 1.72 1.38 0.22

201.05 124.99 78.75 56.68 49.02 46.38 37.40 33.64 29.31 20.37

772.32 523.96 491.53 474.54 424.46 391.71 380.90 367.86 341.11 337.40

-175.15 -117.42 -15.05 30.67 61.23 88.68 121.84 134.78 224.87 293.32

0.00 0.00 0.00 0.00 8.75 31.13 39.08 44.54 49.90 57.47

-158.11 -109.35 38.35 69.03 88.23 107.66 125.39 160.02 243.90 293.32

134.03 112.77 73.24 55.16 47.06 40.28 37.18 30.20 23.77 13.42

-292.14 -165.06 -10.85 17.92 39.50 56.15 76.30 108.11 197.52 247.85

11.41 9.51 8.76 7.91 7.17 6.68 6.27 5.91 5.13 4.78

13.44 12.40 9.51 8.80 8.21 7.95 7.28 6.85 5.93 5.47

13.44 12.14 8.56 7.99 7.79 7.40 6.94 6.38 5.49 4.92

17.14 13.25 9.69 9.14 8.60 7.85 7.68 7.36 6.60 5.67

161.95 152.48 119.24 103.42 100.53 96.13 87.33 74.74 58.28 46.44

6.08 5.40 4.27 3.01 2.65 2.53 2.24 1.88 1.46 0.34





Seed 64.03 18

Fertilizer 44.53 15


Fuel & oil 12.90 18

Repairs 28.34 18


Land rent 102.35 18

Utilities 5.10 13







Utilities1

0.00 13








Net return 74.46 18











Page 26






Wheat, Winter on Owned Land

Avg. Of

All Farms

Number of farms 8

Acres 52.84 Yield per acre (bu.) 80.67 Operators share of yield % 100.00 Value per bu. 4.24 Total product return per acre 342.14 Other crop income per acre 9.76 Gross return per acre 351.90

Direct Expenses

Seed 50.94 Fertilizer 66.32 Crop chemicals 18.81 Crop insurance 5.20 Fuel & oil 14.23 Repairs 25.25 Custom hire 26.63 Hired labor 22.00 Machinery leases 6.56 Utilities 5.51 Hauling and trucking 3.65 Marketing 0.60 Operating interest 2.48 Miscellaneous 5.80


Overhead Expenses



Government payments 3.53 Net return with govt pmts -38.56 Labor & management charge 41.94 Net return over lbr & mgt -80.51

Cost of Production



Page 27




Wheat, Winter on Cash Rented Land

Avg. Of

All Farms

Number of farms 15

Acres 47.73 Yield per acre (bu.) 80.62 Operators share of yield % 100.00 Value per bu. 4.29 Total product return per acre 345.53 LDP income per acre 1.16 Other crop income per acre 27.46 Gross return per acre 374.15

Direct Expenses

Seed 39.37 Fertilizer 50.08 Crop chemicals 14.19 Crop insurance 5.30 Storage 1.20 Fuel & oil 15.62 Repairs 26.52 Custom hire 24.68 Hired labor 13.46 Land rent 107.99 Utilities 3.09 Hauling and trucking 6.59 Marketing 0.46 Operating interest 1.89 Miscellaneous 7.65


Overhead Expenses

Hired labor 9.24 Building leases 0.33 Farm insurance 4.53 Utilities 2.36 Dues & professional fees 1.26 Interest 1.85 Mach & bldg depreciation 37.73 Miscellaneous 5.66


Government payments 8.19 Net return with govt pmts 1.30 Labor & management charge 46.75 Net return over lbr & mgt -45.45

Cost of Production



Page 28


Wheat, Winter 2016; Cash Rent


Group

Median

Count

RankEm

10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

32.07 55.00 62.11 66.85 73.62 79.89 82.69 87.52 111.39 115.56

3.50 3.83 3.99 4.01 4.06 4.20 4.20 4.50 4.84 5.24

128.59 230.45 248.57 271.13 298.93 316.32 335.42 440.97 485.35 501.26

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

128.59 230.45 248.57 275.74 310.20 319.95 348.42 453.42 602.14 701.26

59.25 59.13 45.58 43.34 40.00 33.09 22.42 20.83 19.56 6.03

115.30 100.00 91.11 71.29 54.39 48.32 39.00 27.78 26.67 17.24

29.22 24.27 23.21 21.65 17.77 13.07 11.49 9.60 7.76 4.43

93.18 49.27 43.63 34.87 29.73 25.65 20.55 17.87 15.84 10.75

51.92 43.24 38.66 33.03 30.00 28.56 26.26 14.17 12.17 10.39

178.93 150.25 138.65 129.87 112.15 96.56 82.20 76.47 71.60 65.88

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

7.32 4.29 4.20 4.17 3.48 3.29 1.96 1.68 1.23 0.57

31.34 24.57 14.93 9.74 3.93 2.50 1.60 0.62 0.46 0.01

418.43 417.00 415.14 366.26 324.50 264.41 240.56 221.41 186.72 122.73

-168.43 -117.99 -98.04 -58.11 24.70 79.68 114.12 212.48 244.31 326.58

32.69 16.82 13.47 9.90 5.05 0.00 0.00 0.00 0.00 0.00

9.35 8.87 8.67 6.27 4.98 4.17 3.88 3.35 2.78 1.92

15.55 3.49 2.85 1.88 1.22 0.00 0.00 0.00 0.00 0.00

3.06 2.64 2.54 2.28 1.91 1.48 1.04 1.00 0.78 0.32

11.03 5.69 5.45 2.51 2.42 1.56 1.47 1.28 1.04 0.08

101.07 100.01 51.00 35.30 30.11 26.40 20.65 15.41 13.88 5.24

49.31 12.06 10.14 7.16 5.01 2.99 1.21 0.80 0.40 0.04

22.13 15.00 10.43 7.52 4.82 3.68 1.93 1.38 1.38 0.22

174.46 127.61 92.99 65.92 53.39 50.04 48.78 42.85 30.55 20.37

591.46 473.64 466.72 423.67 374.21 315.58 301.51 264.94 254.92 215.72

-342.89 -182.61 -153.25 -117.51 -16.64 10.34 29.85 178.11 196.80 277.88

0.00 0.00 0.00 0.00 0.00 0.00 8.03 27.78 40.11 43.44

-342.89 -166.54 -147.22 -98.80 -16.64 10.34 49.91 186.85 196.80 315.94

134.03 120.73 74.86 60.64 54.88 47.06 43.97 33.46 20.24 13.42

-393.98 -241.40 -207.11 -147.59 -85.55 -46.98 -16.68 143.86 167.23 257.28

7.69 6.43 6.08 5.09 3.92 3.48 3.03 2.49 2.26 2.23

9.70 9.11 6.88 5.86 4.41 4.11 3.87 3.63 2.97 2.53

9.20 9.11 6.57 5.37 4.11 3.95 3.41 2.86 2.53 1.66

11.54 9.90 7.42 6.11 5.16 4.52 4.32 3.33 2.85 2.19

215.95 177.44 161.95 107.52 97.69 95.08 80.59 67.98 64.47 43.61

9.89 5.43 4.87 4.27 3.33 2.64 2.50 2.08 1.84 1.58




Other crop income 0.00 4


Seed 39.43 14

Fertilizer 50.85 11

Fuel & oil 13.27 15

Repairs 26.46 15


Land rent 102.35 14

Utilities 0.00 9






Hired labor1

2.53 10


Utilities1

0.40 12








Net return 5.95 15











Page 29




Corn 2016; Owned Land; Cash Rent


Group

RankEm

Median Count 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Yield per acre (bu.) 150.80 40 99.50 118.18 136.26 145.70 150.00 155.00 160.66 168.64 175.20 186.01

Value per unit 3.50 40 3.08 3.30 3.30 3.40 3.45 3.50 3.56 3.72 3.82 4.00

Total product value 531.88 40 334.95 413.64 445.22 479.00 518.86 543.08 584.48 596.75 654.91 687.03

Crop insurance 0.00 7 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Gross return 554.30 40 334.95 450.27 479.00 517.04 538.77 578.09 595.32 621.55 665.75 755.38

Seed 101.18 40 134.12 117.79 112.26 107.11 101.94 98.90 90.37 81.87 66.39 55.81

Fertilizer 110.80 40 260.90 195.53 168.15 122.89 117.02 104.90 91.86 89.07 87.41 45.03

Crop chemicals 43.21 39 88.60 72.60 67.14 58.46 50.00 43.21 36.57 31.68 13.88 10.91

Crop insurance 9.60 28 53.81 29.51 21.69 20.16 10.23 9.60 9.10 8.17 5.79 0.51

Fuel & oil 22.55 40 50.24 38.63 32.29 25.37 23.12 21.07 20.33 17.19 12.94 9.02

Repairs 45.53 40 93.92 79.99 67.15 58.21 47.83 44.97 37.67 33.32 23.85 19.71

Custom hire 30.70 28 74.51 50.43 39.17 32.30 31.42 28.98 28.56 23.05 16.22 10.39

Utilities 5.18 29 9.83 7.60 6.96 5.97 5.77 5.10 3.82 3.77 2.43 1.90

Operating interest 4.12 34 11.52 7.87 6.51 6.03 5.28 3.72 3.09 2.27 1.08 1.04

Miscellaneous 4.93 28 31.34 28.58 11.04 9.74 5.45 3.96 3.01 0.62 0.01 0.01

Total direct expenses 487.27 40 665.23 622.61 552.44 499.02 490.46 480.55 467.69 415.65 383.36 343.03

Return over direct expenses 48.33 40 -125.71 -35.71 -1.72 15.52 32.16 77.81 101.96 119.08 184.44 244.69

Hired labor1

0.00 28 59.93 59.93 24.69 7.30 0.00 0.00 0.00 0.00 0.00 0.00

Farm insurance 7.56 40 24.56 13.41 12.01 9.54 8.26 7.22 6.02 4.68 3.51 2.03

Utilities1

0.00 34 5.59 5.22 1.48 1.37 0.00 0.00 0.00 0.00 0.00 0.00

Dues & professional fees 3.34 38 21.02 8.11 4.65 3.99 3.55 2.72 1.92 1.86 1.05 0.69

Interest on interm. debt 4.51 34 18.17 10.91 10.43 8.76 4.72 3.90 2.77 2.74 2.35 0.67

Machinery depreciation 44.42 40 139.40 78.56 57.19 51.00 44.42 42.91 35.38 29.50 22.15 10.32

Building depreciation 5.84 38 27.89 20.00 11.56 8.59 7.59 5.37 2.91 1.51 0.81 0.07

Miscellaneous 6.79 38 34.60 16.74 13.34 8.59 7.63 6.49 6.24 3.66 2.53 0.41

Total overhead expenses 112.56 40 258.05 222.46 199.14 154.57 123.25 97.49 90.24 75.38 61.25 39.11

Total dir & ovhd expenses 598.00 40 841.32 746.57 725.88 649.31 623.01 570.35 560.29 552.74 502.96 464.08

Net return -100.32 40 -234.40 -176.43 -146.79 -128.69 -105.10 -88.95 -50.95 -7.47 56.22 175.81

Government payments 22.38 40 0.00 0.00 0.00 0.00 8.75 31.75 39.52 45.63 50.49 67.46

Net return with govt pymts -85.29 40 -225.39 -151.47 -120.56 -106.51 -98.12 -56.25 -19.15 24.71 110.20 182.05

Labor & management charge 70.36 40 233.52 115.26 101.39 82.27 77.32 68.47 63.96 46.51 37.03 24.61

Net return over lbr & mgt -149.18 40 -322.43 -266.82 -233.06 -194.15 -160.53 -136.64 -117.26 -44.88 20.95 106.44

Direct cost of prod per unit 3.35 40 4.48 4.03 3.75 3.56 3.38 3.29 2.88 2.81 2.60 2.33

Dir & ovhd cost of prod/unit 4.17 40 6.21 5.14 4.66 4.47 4.22 4.13 3.77 3.56 3.19 3.08

COP less govt & other income 3.88 40 5.72 4.58 4.38 4.19 3.94 3.83 3.65 3.36 2.98 2.68

Cost of prod with lbr & mgt 4.36 40 6.44 5.50 5.09 4.80 4.47 4.30 3.98 3.84 3.46 3.08

Machinery cost per acre 151.44 40 288.26 208.30 168.10 159.29 152.87 148.84 136.93 134.02 117.92 84.68

Est. labor hours per acre 4.72 40 9.90 8.38 6.60 5.83 4.72 4.58 4.17 3.50 3.16 1.50

Page 30




Corn Silage 2016; Owned Land; Cash Rented Land


Group

RankEm

Median Count 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Yield per acre (ton) 20.00 39 13.64 15.00 17.92 18.05 19.65 20.25 20.44 21.99 23.64 25.20

Value per unit 40.00 39 35.00 36.25 37.75 40.00 40.00 40.00 40.00 42.00 45.00 47.50

Total product value 775.86 39 545.45 640.54 703.23 718.33 724.94 796.90 811.68 869.86 902.36 1,133.93

Crop insurance 0.00 8 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Gross return 810.03 39 545.45 640.54 717.50 728.45 792.80 811.68 865.91 877.59 967.43 1,133.93

Seed 97.38 39 148.20 134.12 117.98 109.62 99.27 95.35 90.19 81.44 66.42 51.62

Fertilizer 100.95 39 190.00 139.22 125.41 114.50 108.33 92.23 91.28 89.07 70.45 31.64

Crop chemicals 43.33 37 86.09 85.40 67.27 55.52 46.35 43.21 32.12 27.73 12.98 5.52

Fuel & oil 26.54 39 58.44 50.56 41.48 35.85 30.33 26.21 24.67 23.09 17.03 7.00

Repairs 49.06 39 145.67 106.37 91.82 75.60 56.90 47.37 41.09 37.11 21.51 15.02

Custom hire 125.00 35 294.67 249.38 170.48 154.15 131.83 111.71 65.08 45.83 32.30 27.56

Utilities 5.52 24 11.13 8.71 7.79 6.51 5.97 5.18 4.79 4.07 3.77 3.08


Miscellaneous 3.93 30 31.34 26.91 11.04 8.09 5.43 3.74 3.18 2.39 2.23 0.01


Return over direct expenses 231.53 39 -67.08 97.40 154.60 175.46 222.42 249.64 305.32 347.87 413.42 581.50

Hired labor1

0.00 31 131.97 26.94 2.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Real estate taxes 23.03 23 80.56 38.33 29.26 26.59 23.95 22.69 20.73 18.49 16.81 5.73

Farm insurance 7.98 37 24.04 15.50 14.21 13.57 8.35 7.77 6.67 4.14 3.18 1.96

Utilities1

0.00 34 5.69 3.75 1.61 0.00 0.00 0.00 0.00 0.00 0.00 0.00





Miscellaneous 7.41 37 44.26 22.51 20.08 12.11 8.45 7.08 6.72 4.55 3.71 0.45


Total dir & ovhd expenses 676.20 39 1,010.30 932.48 843.40 736.92 695.62 661.08 597.88 581.30 560.71 480.11

Net return 121.90 39 -194.89 -72.73 -6.01 33.01 100.13 133.72 166.09 196.25 276.03 460.17


Net return with govt pymts 133.62 39 -194.89 -20.81 26.60 57.45 111.14 134.36 170.00 221.96 304.76 537.23


Net return over lbr & mgt 40.85 39 -320.67 -183.91 -90.03 -74.14 2.93 48.36 77.19 132.60 230.52 496.89







Page 31




Hay, Alfalfa 2016; Owned Land; Cash Rented Land


Group

RankEm

Median Count 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Yield per acre (ton) 4.89 19 2.20 2.60 4.32 4.75 4.86 4.95 5.09 5.25 5.28 6.69

Value per unit 125.00 19 80.00 100.00 100.00 100.00 115.00 125.00 125.00 142.50 150.00 185.00

Total product value 594.05 19 240.00 253.37 483.33 508.62 528.13 594.05 656.25 694.45 762.52 1,077.38

Gross return 594.05 19 240.00 253.37 483.33 508.62 528.13 594.05 656.25 694.45 762.52 1,113.69

Seed 22.35 18 260.25 41.67 37.06 32.97 28.33 19.22 16.72 12.43 9.90 1.00

Fertilizer 81.45 13 138.48 138.48 100.00 100.00 88.78 64.15 26.03 21.18 7.78 2.66

Fuel & oil 24.60 19 44.46 36.97 29.18 26.21 25.16 23.95 22.62 19.20 14.80 3.56

Repairs 55.40 19 186.36 98.54 89.32 75.39 61.42 52.23 44.35 39.59 27.17 23.77

Custom hire 42.76 16 182.27 182.27 138.14 93.37 51.90 34.74 19.56 8.02 0.71 0.71

Hired labor 25.96 12 65.84 65.84 48.43 44.21 26.45 25.46 19.83 19.83 18.91 18.10

Land rent 86.19 12 172.36 113.60 104.69 102.10 90.41 80.68 71.60 65.88 52.26 39.86

Utilities 5.43 14 7.97 6.51 6.51 5.97 5.77 4.95 3.77 3.37 2.79 2.79


Miscellaneous 3.96 17 92.49 31.34 27.95 11.04 9.74 3.96 3.82 2.10 0.91 0.62



Hired labor1

0.00 15 26.94 25.13 10.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Farm insurance 7.77 19 24.04 14.07 11.03 10.41 8.35 7.75 7.48 5.90 4.28 2.71

Utilities1

0.00 17 3.75 3.28 0.56 0.00 0.00 0.00 0.00 0.00 0.00 0.00





Miscellaneous 7.08 19 44.26 29.31 19.05 12.86 8.69 6.99 5.44 3.95 3.71 1.88



Net return 97.11 19 -84.20 -23.66 32.49 42.07 61.67 117.50 187.84 267.08 297.77 662.34


Net return with govt pymts 114.60 19 -84.20 14.31 42.07 62.19 94.89 126.24 196.59 267.08 297.77 662.34


Net return over lbr & mgt 53.31 19 -176.55 -134.79 -54.17 -3.05 29.65 67.18 94.74 186.07 199.05 601.01







Page 32




Soybeans 2016; Owned Land; Cash Rented Land


Group

RankEm

Median Count 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Yield per acre (bu.) 54.09 33 33.86 36.23 44.12 50.00 53.81 55.01 59.05 60.72 62.73 62.86

Value per unit 9.27 33 8.50 9.00 9.08 9.20 9.25 9.32 9.45 9.50 9.75 10.00


Gross return 497.64 33 314.87 328.96 434.72 450.00 478.01 511.73 555.29 563.73 597.17 618.05

Seed 66.50 33 113.64 82.05 77.79 74.15 69.00 64.03 57.19 51.53 48.45 26.95

Fertilizer 45.00 28 154.77 141.54 63.10 54.55 48.06 44.53 42.91 41.52 20.56 12.01

Crop chemicals 37.22 33 102.56 57.74 52.16 42.86 39.38 36.74 34.88 30.00 23.81 12.08

Fuel & oil 12.86 33 29.22 21.83 18.49 14.41 13.27 12.30 10.46 8.13 6.35 4.85

Repairs 27.70 33 49.27 43.63 42.82 34.59 30.71 26.09 21.54 19.82 17.34 10.75

Custom hire 28.45 22 55.85 47.46 38.97 38.26 28.56 19.11 11.28 9.64 8.59 6.54

Utilities 5.14 24 8.43 7.60 6.51 5.97 5.45 3.82 2.79 2.19 1.92 1.85

Hauling and trucking 5.85 22 22.15 16.36 12.54 9.72 6.28 5.42 2.97 1.27 1.21 0.63


Miscellaneous 3.96 24 31.34 19.81 10.85 9.74 5.45 3.90 2.46 1.50 0.54 0.01



Hired labor1

0.00 19 32.69 32.59 18.84 5.12 0.00 0.00 0.00 0.00 0.00 0.00

Farm insurance 4.87 33 14.77 8.87 7.04 5.51 5.06 3.97 3.40 2.90 2.55 1.12

Utilities1

0.00 25 3.05 2.85 1.34 0.69 0.00 0.00 0.00 0.00 0.00 0.00





Miscellaneous 4.09 32 10.43 8.29 6.37 5.68 4.22 3.91 3.54 2.00 1.44 0.22



Net return 77.09 33 -175.15 -76.73 6.88 31.52 56.40 88.68 125.32 137.00 188.15 286.81


Net return with govt pymts 98.63 33 -158.11 -76.73 31.52 64.35 87.39 107.66 157.13 175.55 219.01 286.81


Net return over lbr & mgt 54.40 33 -227.08 -103.04 -40.73 17.25 39.50 57.14 95.68 117.55 167.55 247.85







Page 33




Wheat, Winter 2016; Owned Land; Cash Rented Land


Group

RankEm

Median Count 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Yield per acre (bu.) 78.29 23 34.28 58.56 64.90 69.70 76.24 81.49 83.03 87.52 93.69 113.48

Value per unit 4.09 23 3.49 3.83 3.95 4.00 4.01 4.19 4.20 4.50 4.78 5.04


Other crop income 0.00 6 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Gross return 319.50 23 179.52 247.13 254.72 291.48 313.15 320.39 360.70 421.50 458.99 651.70

Seed 40.00 22 61.69 59.19 54.17 45.02 42.22 38.87 23.28 21.19 17.59 6.03

Fertilizer 50.85 19 115.30 107.39 100.00 81.20 54.39 50.85 42.40 29.76 21.95 11.65

Fuel & oil 13.27 23 26.74 23.74 21.65 19.78 17.06 12.86 11.44 10.03 8.13 6.09

Repairs 26.46 23 71.22 46.45 40.78 34.87 29.49 26.09 21.27 17.93 15.91 10.75

Custom hire 30.98 15 71.43 51.92 51.92 40.95 35.85 30.49 28.56 20.21 12.17 10.39

Land rent 102.35 14 178.93 150.25 138.65 129.87 112.15 96.56 82.20 76.47 71.60 65.88

Utilities 5.87 16 11.13 11.13 7.89 6.24 5.97 5.77 5.36 3.28 2.43 1.80

Hauling and trucking 6.93 13 21.79 18.79 17.04 14.00 9.04 6.61 4.51 2.97 1.25 0.63


Miscellaneous 3.96 19 31.34 25.74 12.98 9.74 4.69 3.93 2.50 1.91 0.54 0.01


Return over direct expenses 90.95 23 -143.21 -96.84 -68.95 1.25 58.82 107.72 150.57 190.17 234.20 299.53

Hired labor1

0.00 17 32.69 32.69 24.65 11.68 2.53 0.00 0.00 0.00 0.00 0.00

Farm insurance 4.07 23 12.06 9.11 7.85 5.36 4.76 3.89 3.86 3.01 2.23 1.14

Utilities1

0.00 19 15.55 3.27 2.36 1.22 0.40 0.00 0.00 0.00 0.00 0.00





Miscellaneous 4.35 22 18.57 12.72 9.52 7.36 5.41 4.23 3.49 2.54 1.62 0.80



Net return -1.18 23 -361.57 -167.93 -135.13 -71.39 -7.08 5.95 42.09 82.40 178.11 237.34


Net return with govt pymts -1.18 23 -361.57 -156.88 -116.43 -71.39 -7.08 5.95 65.87 107.01 186.85 256.37


Net return over lbr & mgt -53.53 23 -412.66 -224.25 -153.56 -121.16 -68.41 -41.10 -23.14 45.74 143.86 212.25







Page 34



Appendix I

Crop Enterprise Analysis Procedures and Measures

The Crop Enterprise Analyses show the profitability of each crop enterprise produced by five or more farms.

Gross Return is the average Yield multiplied by the Value per Unit plus any other production or income related to the crop. Value per Unit for cash crops is the average sales price for crops sold before the end of the year and the average ending inventory value for crops remaining unsold. For feed crops, it is the estimated value reported by each farm. LDP payments and other commodity‐specific income are added to estimate the total value received for crop production.

Direct Expenses include expenses that are directly related to the production of the specific crop. Most direct expenses are directly assigned to production of the crop and simply divided by acres. Some, such as Fuel and Oil and Repairs, which are difficult to assign directly to specific fields or crops, are determined by allocating the total annual expense across all enterprises using allocation factors entered for each crop.

Overhead Expenses are also determined by allocating the total annual expense across all enterprises using allocation factors entered for each crop.

Net Return per Acre is the Gross Return per Acre minus Total Direct and Overhead Expenses.

Net return with government payments is Net Return per Acre plus Government Payments per acre. Government Payments includes only direct payments and counter‐ cyclical payments. Payments that are directly attached to production of the crop, such as LDP and disaster payments are included in Gross Return. Because direct government payments have been decoupled from actual production, these payments are generally allocated to all crops excluding vegetables and pasture. This is done for each farm by allocating the direct payments from the whole farm to these crops.

Net Return over Labor and Management is calculated by allocating the farmer's charge for unpaid labor and management across all enterprises and subtracting it from Net Return with Government Payments.

Cost of Production is calculated by dividing the total expense for each category by the yield per acre.

Total Expense Less Government and Other Income is total expense minus government payments, income from secondary products, and other income, divided by yield per acre.

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Machinery Cost per Acre is the sum of fuel and oil, repairs, custom hire expense, machinery lease payments, machinery depreciation, and interest on intermediate debt divided by acres.

Estimated Labor Hours per Acre is calculated by allocating the farmer's estimate of total operator and hired labor hours for the year across all enterprises.

Rounding of individual items for the report may have caused minor discrepancies with the calculated totals. If fewer than 4 farms have a certain crop enterprise, that information is not reported. If there are fewer than 18 farms, the high groups are not reported.

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Documents

2016 Ohio Farm Business Summary · 2018-02-15 · operator to dial 614-292-6181. Page 2 2016 Ohio Farm Business Analysis ... Benchmark Reports follow the enterprise summary when available