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PROFITABILITY PROFILE

PROFITABILITY PROFILE. Agriculture & Natural Resource Update 2012 Presented by: Jerry S. Pierce, Jr. KFBM State Coordinator 615 N Mulberry St Elizabethtown, KY 42701 859 537-6655 jerry.pierce@uky.edu. Agricultural Economics. Historic NET FARM INCOME Kentucky Farm Business Management.

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PROFITABILITY PROFILE

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  1. PROFITABILITY PROFILE Agriculture & Natural Resource Update 2012 Presented by: Jerry S. Pierce, Jr. KFBM State Coordinator 615 N Mulberry St Elizabethtown, KY 42701 859 537-6655 jerry.pierce@uky.edu Agricultural Economics

  2. Historic NET FARM INCOMEKentucky Farm Business Management Agricultural Economics

  3. NET FARM INCOME: Grain and Dairy Agricultural Economics

  4. USDA August 2012 Projections for US Farms Reflecting the market impacts of widespread drought and high temperatures during the growing season, large increases in the value of this year's crop and crop insurance indemnity payments have more than offset declining milk sales and rising production expenditures.  These income forecasts, if realized, represent all-time record levels in all three measures of farm income.  Agricultural Economics

  5. USDA August 2012 Projections for US Farms • Net Farm Income for all US farms will be 3.7% HIGHER than 2011. • Crop receipts are projected to be up 6.7% • Corn up 8.9% • Soybeans up 12.2% • Government Payments will increase 6.3% • Livestock receipts are projected to be flat. Agricultural Economics

  6. USDA August 2012 Projections for US Farms • Production Expenses will increase by 6% over last year. • Crop costs • Chemical 9.5% • Seed 10.9% • Fertilizer 7.6% • Fuel 6.5% Agricultural Economics

  7. USDA August 2012 Projections for US Farms • Repairs are projected to be up 5%. • Feed will be 13% higher. • Rent is projected to be 15% higher than 2011. Agricultural Economics

  8. Projected NET FARM INCOME: KFBM Grain and Dairy Farms Agricultural Economics

  9. MANAGEMENT RETURNS Net Farm Income Less: Value Of Operator Labor Less: Interest Charge on Owners Equity Trying to get a True Return to Management Skill Agricultural Economics

  10. NET FARM INCOME & MANAGEMENT RETURNSAll KFBM Farms Agricultural Economics

  11. Comparing KFBM Grain FarmsReturn Above Operating Cost Agricultural Economics

  12. Comparing KFBM Grain FarmsReturn Above Operating Cost Agricultural Economics

  13. 2011 KFBM Grain Farm Balance Sheet Working Capital Ratio ▼ ▼ Agricultural Economics

  14. 2011 KFBM Beef Agricultural Economics

  15. 2011 KFBM Dairy Agricultural Economics

  16. 2011 KFBM Dairy Agricultural Economics

  17. 2011 KFBM Dairy Farm Balance Sheet ▼ ▼ Agricultural Economics

  18. KFBM Farm Income and Family Living Agricultural Economics

  19. KFBM Farm Income and Family Living2000 – Projected 2012 Agricultural Economics

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