Forgey’s River-View Farm Economic Comparison

Dave Forgey’s River-View Farm Comparisons
1990 1991 1992 1993 1994 1995 1996 1997 1998
Dry Lot Dry Lot Graz 6mo Graz 6 mo Seasonal Seasonal Seasonal Seasonal Seasonal
Capitol Eqpt purchased 19000 11542 13800 13987 Debt
Avge Farm Assets 976578 979432 983561 986100 950466 915455 884455 907255 915242 Reduction
Liabilities 573850 565967 501002 476001 417123 343721 311574 272266 232658 341192
Capitol Eqpt sold 2742 12500 27176 28140 Eqpt Sold 70558
Debt reduced from Profit. 270634
Average cows 106 115 125 132 118 117 91 106 106
Milk sold per cow 20447 19649 18517 12153 15325 15747 16265 15624 14777
Income Tl milk
Milk 270924 285619 290255 206466 244732 244950 217218 226457 234682 2221303
Cull Cows 7726 8112 12478 6415 6372 11608 11175 14109 13309 Tl Brdng
Bull Calves 3520 2520 2640 2580 8024 8520 4525 4565 5765 Lvstk Sld
Breeding Stock 30000 8308 63896 52299 52274 48000 8000 17037 23809 303623
Crop & Ag Pmts 7147 20811 13234 10558 8260 17324 11099 5907 6117 Cull Sales
Pat Dividends 680 0 1146 1040 944 1136 2182 1122 575 91304
Other farm income 11009 Tl Sales
Total Income 319997 325370 383649 279358 320606 331538 254199 269197 295266 2779180
Expenses
Purchased Feed 71807 63906 67889 56219 61832 83496 56553 45214 42536
Labor 32157 33150 30879 26518 24116 21578 19745 18300 22821
Fert/Chem/Lime 11800 13340 2660 711 708 3692 5185 4305 5145
Repairs 27040 33355 29180 28192 30916 26270 10787 17970 25285
Custom Hire 0 2617 3072 1970 0 0 1470 722 6454
Fuel 18136 10929 12166 9004 8968 7526 6083 6896 6364
Supplies 18386 16180 20737 17878 20532 14626 13032 9734 10414
Seed 3451 6492 4393 3591 3540 1562 2843 876 2247
Rent 5690 5440 6940 5679 5546 4400 4400 5400 4300
Vet/ Medicine 10025 6495 5608 4678 4602 4544 3289 3173 3927
Breeding 6391 4777 2897 2737 2714 2272 1784 1430 1430
Insurance 22312 24201 25983 15753 15694 17040 14292 19053 19287
Taxes 7762 7860 7856 7964 8024 7952 7695 7980 8683
Utilities 10911 9119 10308 8275 8260 8236 6304 6129 6016
DHIA 1317 1153 1450 1242 1180 1278 1034 515 535
Misc. Exp. 3251 1969 3723 2140 1534 646 427 7842 18138
Farm Interest 57114 52004 46618 39084 37170 41748 32076 27570 27399
Total Expense 307550 292987 282359 231635 235336 246866 186999 183109 210981
Total
Net Cash Income 12447 32383 101290 47723 85270 84672 67200 86088 84285 Dep
Inventory Change 1500 0 10200 5400 -12900 -10600 0 400 20000 taken
Depreciation 38500 37500 36759 36871 35414 34621 33213 32579 31852 317309
Net Farm Income -24553 -5117 74731 16252 36956 39451 33987 53909 72433
Net Farm Income % -8% -2% 19% 6% 12% 12% 13% 20% 25%
Operating Exp ratio 78.26% 74.06% 61.45% 68.93% 61.81% 61.87% 60.95% 57.78% 62.18%
Net Per Cow -232 -44 598 123 313 337 373 509 683
Acres Farmed 415 398 398 398 398 370 370 370 370
Income Per Acre -59 -13 188 41 93 107 92 146 196
Value  Operator Labor 40000 40000 40000 40000 40000 40000 40000 40000 40000
Retun on Frm Assts -7439 6887 81349 15336 34126 41199 26063 41479 59832 Nt Worth
Rate rtn on Frm Ast -1% 1% 8% 2% 4% 5% 3% 5% 7% Increase
Net Worth 402728 413465 482559 510099 533343 571734 572881 634989 682584 279856
Retun on Frm Equity -64553 -45117 34731 -23748 -3044 -549 -6013 13909 32433
Rate rtn on Frm Eqty -16% -11% 7% -5% -1% 0% -1% 2% 5%
Debt / Asset Ratio 59% 58% 51% 48% 44% 38% 35% 30% 25%
Equity / Asset Ratio 41% 42% 49% 52% 56% 62% 65% 70% 75%
Debt / Equity Ratio 142% 137% 104% 93% 78% 60% 54% 43% 34%