2017 Ohio Farm Business Summary...enterprise summary includes the average for all farms, and the...

OHIO STATE UNIVERSITY EXTENSION

2017 Ohio Farm Business

Summary

Crop Enterprise Analysis with Benchmark Reports

farmprofitability.osu.edu

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 Sharon Harris, Farm Business Analysis Technician, Ohio State University Extension Trish Levering, Farm Business Analysis Technician, Ohio State University Extension Clint Schroeder, Farm Business Analysis Technician, Ohio State University Extension Dianne Shoemaker, Field Specialist, Ohio State University Extension Haley Shoemaker, Program Coordinator, Ohio State University Extension Tom Weygandt, Tweyg Consulting, Ltd.

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

Historic weather data and graphics provided by:

Jim Noel, NOAA/NWS/Ohio River Forecast Center

This work is supported by the “Growing profit and risk management potential for Ohio and NY crop and livestock farms by expanding access to farm business analysis and benchmarking programs and resources” (GRT00047395) 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]

September 2018

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/

2017 Ohio Farm Business Analysis

Crop Farm Analysis

Table of Contents

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

2017 Weather Summary .............................................................................. 5-6

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

Crop Enterprise Analysis. ............................................................................ 7-9

How to Use Benchmark Reports...................................................................9

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

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

Corn on Owned Land

Average of all Farms ......................................................................... 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…………………………………………………………………………………...........18‐20

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

Alfalfa Hay, Average of all Farms on Cash Rented Land ..................... 19

Mixed Hay, Average of all Farms on Owned Land .............................. 20

Soybeans...................................................................................................................... 21‐24

Soybeans on Owned Land

Average of all Farms ............................................................. 21

Soybean Benchmark Report on Owned Land ....................... 22

Soybeans on Cash Rented Land

Average of all Farms and High 20% Sorted by Net Return ..... 23

Soybean Benchmark Report on Cash Rented Land ............... 24

Wheat, Winter ................................................................................................. 25‐26

Wheat, Winter on Owned Land, Average of all Farms .............. 25

Wheat, Winter on Cash Rented Land, Average of all Farms .... 26

Rye/Triticale/Small Grain Silage Double Crop ............................................. 27‐28

Rye/Triticale/Small Grain Silage Double Crop on Owned Land,

Average of all Farms ................................................................ 27

Rye/Triticale/Small Grain Silage Double Crop on Cash Rented

Land, Average of all Farms ...................................................... 28

Benchmark Reports, All Tenures (Owned, Cash Rented) ....................... 29-34

Corn Benchmark Report .......................................................... 29

Corn Silage Benchmark Report ................................................ 30

Hay, Alfalfa Benchmark Report ............................................... 31

Soybean Benchmark Report… ................................................ 32

Wheat, Winter Benchmark Report ............................................ 33

Rye/Triticale/Small Grain Silage Double Crop Benchmark

Report ...................................................................................... 34

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

2017 Ohio Crop Enterprise Summary

42 farms with 32,626 crop acres participated in the 2017 Ohio Farm Business Analysis and Benchmarking Program. These farms provided detailed financial and production data to complete a whole farm analysis. 34 of the farms also completed an enterprise analysis for their crop enterprises. Farms ranged in size from 60 crop acres to more than 2,200 crop acres. The ten largest farms farmed an average of 1,597 acres each.

The 2017 summary contains enterprise reports for corn harvested as dry shell corn and corn silage, alfalfa hay, mixed hay, soybeans, winter wheat harvested as grain, and small grain double crops harvested as silage. 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 18 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 or cash rented). Following the wheat enterprise summary are combined benchmark reports for corn, corn silage, alfalfa hay, soybeans, wheat and small grain silage combining data for all land tenures into one benchmarkreport.

Participating Farms

In 2017 farms were located in 22 Ohio Counties.

Figure 2: Locations of the 42 Ohio farm businesses participating in 2017

2017 – The Year in Review

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

Ohio experienced one of its’ warmest years on record during 2017. By year’s end, it was named the

5th warmest on record for Ohio in 123 years.

Rainfall was higher than normal, which resulted in 2017 being ranked the 7th wettest year on record

in Ohio. For comparison, 2016 was considered fairly normal.

Breaking it into seasons, winter of 2017 brought warm and wet weather, with northeast Ohio

experiencing the wettest weather, and southwest Ohio staying close to normal. Moving into the

spring planting season, Ohio saw temperatures above normal with above normal rainfall. Ohio spring

temperatures ranked 11th warmest out of 123 years and rainfall was the 11th wettest out of 123 years.

By the summer growing season, conditions changed and it was fairly ideal for growing. Maximum

temperatures were the 35th coolest on record, while overall averages remained normal.

As we moved into the fall harvest season, the weather turned warm again, resulting in the 13th

warmest on record. Rainfall remained slightly elevated but came in bursts and was the 23rd wettest

on record.

The first half of September was abnormally cool, but the second half ended up being one of the

warmest on record in Ohio. Temperatures for the first half of September were close to 10 degrees

below normal but the second half temperatures were close to 10 degrees above normal yielding a

near normal September. Even though there was some rain early in September of 2017, it turned very

dry for the second half of September with most places coming in with below normal September

rainfall. This certainly confused the crops for the end of the growing season.

In summary, Ohio saw a warm and wet 2017.

Source: National Climactic Data Center

Weather Impact by Farm

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.

2017 Ohio Regional Temperature Rankings

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

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 2017)

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

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

2017 177 3.55 49.5 9.50 74 4.90 3.2 134

1Marketing year average price: https://quickstats.nass.usda.gov/

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). Additional Benchmark Reports combining owned and rented acres for each crop begin on page 29. 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 crop insurance proceeds and

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

payments (see Net Return with Government Payments).

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.

Page 8

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.

How to Use 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.

The "count" column, located between the group median column and the rank table, indicates how many enterprises had data for each income, expense or efficiency item. Also note that some farms may have more than one of any particular crop enterprise. For instance, there were 14 farms in this summary that raised corn on owned acres. However, there are 17 corn enterprises on owned land in the corresponding Benchmark Report. With today's technology, farms can and do enterprise crops and their corresponding costs and yields by farm or field.

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

Corn on Owned Land

Avg. Of

All Farms

Number of farms 14

Acres 134.29 Yield per acre (bu.) 165.53 Operators share of yield % 100.00 Value per bu. 3.67 Total product return per acre 607.63 Crop insurance per acre 1.23 Other crop income per acre 0.23 Gross return per acre 609.09

Direct Expenses

Seed 118.21 Fertilizer 122.26 Crop chemicals 62.74 Crop insurance 13.55 Drying expense 5.27 Storage 4.58 Packaging and supplies 1.17 Fuel & oil 28.19 Repairs 60.37 Custom hire 27.69 Hired labor 23.70 Machinery leases 9.54 Utilities 3.22 Hauling and trucking 2.03 Marketing 1.12 Operating interest 7.08 Miscellaneous 6.32

Total direct expenses per acre 497.04 Return over direct exp per acre 112.05

Overhead Expenses

Hired labor 11.70 Machinery leases 0.95 RE & pers. property taxes 28.47 Farm insurance 12.85 Utilities 4.66 Dues & professional fees 5.69 Interest 53.60 Mach & bldg depreciation 48.96 Miscellaneous 12.95

Total overhead expenses per acre 179.82 Total dir & ovhd expenses per acre 676.87 Net return per acre -67.78

Government payments 33.03 Net return with govt pmts -34.75 Labor & management charge 85.21 Net return over lbr & mgt -119.96

Cost of Production

Total direct expense per bu. 3.00 Total dir & ovhd exp per bu. 4.09 Less govt & other income 3.88 With labor & management 4.40

Net value per unit 3.67 Machinery cost per acre 176.73 Est. labor hours per acre 4.59

2017 Annual Report Page 10 © The Ohio State University

Corn 2017; Owned Land

Benchmark Report, 17 Enterprises

Group

Median

Count

RankEm

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

Refer to page 9 for information on how to use benchmark reports Page 11

© The Ohio State University

97.75 125.00 137.62 159.26 166.95 176.92 180.50 196.98 204.76 219.68

2.85 3.32 3.38 3.50 3.55 3.66 3.77 3.79 3.83 3.90

278.60 418.75 502.15 549.26 608.27 621.84 672.00 733.38 776.05 832.58

278.60 418.75 502.15 549.26 608.27 621.84 672.97 751.01 776.41 832.58

171.63 119.39 116.65 114.66 113.17 113.09 108.71 99.35 92.36 85.74

231.13 166.67 161.45 143.64 128.87 128.17 107.27 88.20 58.20 42.76

99.38 85.96 85.96 75.64 62.94 55.41 53.03 33.19 24.74 9.45

30.67 29.32 29.32 26.27 17.40 14.25 9.62 8.52 6.11 5.26

44.53 43.95 40.60 32.50 29.82 26.42 25.47 24.27 14.81 4.67

112.29 102.81 68.14 57.99 49.22 42.30 34.51 29.80 28.58 9.24

7.80 7.19 5.95 4.74 4.71 4.54 3.71 3.65 2.51 2.32

26.60 26.60 26.60 10.18 8.58 6.26 3.49 1.93 1.57 0.16

658.53 599.02 562.94 516.10 495.15 471.44 407.51 368.30 339.08 286.96

-173.03 -65.63 -6.71 94.37 153.16 212.58 241.68 277.15 284.70 352.99

56.69 56.69 53.14 19.17 19.17 0.00 0.00 0.00 0.00 0.00

72.38 46.57 45.32 45.32 39.41 26.37 23.02 21.34 7.70 0.68

33.59 17.09 15.65 12.35 11.26 9.44 6.88 3.20 2.99 2.44

22.37 14.21 14.21 1.63 0.00 0.00 0.00 0.00 0.00 0.00

17.82 7.57 6.97 6.46 5.53 4.02 2.82 2.17 1.82 0.74

16.07 14.68 11.89 9.26 6.10 5.59 1.99 1.25 1.01 0.64

99.68 99.68 99.68 74.67 69.40 60.58 44.82 32.66 8.71 2.04

90.85 69.71 59.50 53.26 44.50 43.45 40.48 26.05 15.12 10.85

19.37 9.97 9.32 8.16 7.44 4.26 2.54 1.72 1.35 0.09

32.68 26.79 13.29 9.46 7.97 7.96 6.84 3.84 1.69 1.49

284.18 284.18 280.92 213.43 191.32 163.97 147.36 121.67 91.00 48.48

833.72 781.51 770.46 725.69 689.08 643.49 577.42 555.17 472.08 419.71

-348.22 -279.06 -153.83 -55.34 -21.21 -12.05 35.01 67.44 152.09 195.07

0.00 0.00 24.66 26.67 29.12 33.85 36.08 38.37 43.80 55.30

-311.68 -245.21 -126.70 -21.87 -7.45 16.50 70.96 104.19 178.94 240.10

218.78 147.61 119.92 89.92 80.35 74.59 73.65 54.48 43.22 42.64

-390.66 -287.85 -253.81 -141.16 -60.73 -41.70 -8.28 23.78 78.35 116.73

4.75 4.09 3.53 2.95 2.65 2.42 2.36 2.26 2.20 1.90

6.01 5.70 4.79 3.81 3.73 3.64 3.54 3.40 2.98 2.39

5.75 5.36 4.61 3.67 3.52 3.47 3.35 3.24 2.67 2.39

6.32 5.82 5.31 4.39 3.95 3.87 3.73 3.58 3.37 2.85

245.56 242.73 190.73 173.50 154.32 154.06 142.97 132.99 121.24 99.26

9.44 7.47 5.21 4.97 4.42 4.25 4.21 3.83 3.37 1.12

Yield per acre (bu.) 175.65 17

Value per unit 3.61 17

Total product value 618.75 17

Gross return 618.75 17

Seed 113.17 17

Fertilizer 128.17 17

Crop chemicals 56.40 17

Crop insurance 15.44 13

Fuel & oil 26.42 17

Repairs 44.14 17

Utilities 4.62 11

Operating interest 7.07 13

Total direct expenses 479.59 17

Return over direct expenses 198.79 17

Hired labor 0.00 13

Real estate taxes 26.37 15

Farm insurance 9.74 17

Utilities 0.00 16

Dues & professional fees 4.15 17

Interest on interm. debt 5.59 16

Interest on lng term debt 64.71 15

Machinery depreciation 43.64 17

Building depreciation 4.85 17

Miscellaneous 7.96 16

Total overhead expenses 167.64 17

Total dir & ovhd expenses 670.74 17

Net return -13.37 17

Government payments 33.85 17

Net return with govt pymts 13.79 17

Labor & management charge 74.59 17

Net return over lbr & mgt -57.17 17

Direct cost of prod per unit 2.44 17

Dir & ovhd cost of prod/unit 3.66 17

COP less govt & other income 3.48 17

Cost of prod with lbr & mgt 3.92 17

Machinery cost per acre 154.06 17

Est. labor hours per acre 4.25 17


(Farms Sorted By Net Return)

Corn on Cash Rented Land

Avg. Of

Number of farms

All Farms

20

High 20%

4

Acres 179.59 134.75

Yield per acre (bu.) 174.06 195.69

Operators share of yield % 100.00 100.00

Value per bu. 3.65 3.82

Total product return per acre 635.20 746.70

Hedging gains/losses per acre 0.40 -

Crop insurance per acre 2.27 1.11

Other crop income per acre 0.85 -

Gross return per acre 638.73 747.80

Direct Expenses Seed

97.20

97.08

Fertilizer 124.95 111.77

Crop chemicals 56.75 61.57

Cover crop expense 0.51 -

Crop insurance 16.19 5.92

Drying expense 5.90 5.74

Storage 1.99 0.89

Packaging and supplies 2.59 -

Fuel & oil 28.89 34.18

Repairs 46.84 49.66

Custom hire 17.62 11.33

Hired labor 8.26 11.95

Land rent 132.36 137.23

Machinery leases 7.90 2.89

Utilities 2.63 3.40

Hauling and trucking 3.52 -

Marketing 2.22 -

Operating interest 8.08 3.37

Miscellaneous 6.31 6.82

Total direct expenses per acre 570.71 543.79

Return over direct exp per acre 68.02 204.01

Overhead Expenses Hired labor

17.51

0.13

Machinery leases 1.44 0.00

Building leases 0.90 4.04

Farm insurance 13.53 5.03

Utilities 7.00 0.01

Dues & professional fees 7.50 4.12

Interest 3.98 5.57

Mach & bldg depreciation 58.33 44.90

Miscellaneous 8.96 6.27

Total overhead expenses per acre 119.14 70.07

Total dir & ovhd expenses per acre 689.86 613.86

Net return per acre -51.13 133.94

Government payments 34.17 46.55

Net return with govt pmts -16.96 180.50

Labor & management charge 94.36 121.01

Net return over lbr & mgt -111.32 59.49

Cost of Production Total direct expense per bu.

3.28

2.78

Total dir & ovhd exp per bu. 3.96 3.14

Less govt & other income 3.75 2.89

With labor & management 4.29 3.51

Net value per unit 3.65 3.82

Machinery cost per acre 158.30 144.94

Est. labor hours per acre 4.39 4.28

2017 Annual Report Page 12


Corn 2017; Cash Rented Land


Group

Median

Count

RankEm

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



111.38 138.26 155.15 165.00 171.64 179.75 184.66 191.41 198.38 220.59

3.08 3.34 3.50 3.57 3.62 3.75 3.79 3.79 3.80 3.88

348.67 504.40 548.63 584.23 618.75 649.28 694.91 720.18 746.77 831.43

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

348.67 518.89 555.49 592.10 618.75 649.28 696.84 725.44 751.87 831.43

116.65 114.66 113.17 113.17 113.01 104.42 99.64 89.88 79.09 68.26

253.53 164.24 155.83 129.56 128.17 128.17 126.03 88.52 65.96 56.99

106.78 85.96 85.96 85.96 63.89 54.42 43.37 35.98 27.22 17.10

33.84 29.32 29.32 29.16 23.31 18.70 13.99 11.76 8.52 5.68

45.91 43.95 37.59 30.62 26.42 26.42 26.42 24.47 21.13 12.46

93.59 63.01 59.89 53.36 44.45 39.34 29.80 29.80 28.58 23.64

118.19 74.96 34.65 28.14 25.17 25.17 25.17 19.79 11.62 0.98

223.84 199.01 193.25 180.00 174.53 141.73 88.01 80.22 50.00 33.49

26.60 26.60 26.60 19.11 9.91 5.45 3.30 2.50 1.75 0.69

778.49 700.97 696.35 678.93 646.91 582.38 543.03 506.97 471.88 371.12

-165.82 -97.83 -31.51 16.44 33.53 49.07 89.91 110.88 157.58 232.41

56.69 50.28 21.55 19.17 19.17 7.76 0.00 0.00 0.00 0.00

7.58 7.58 7.58 7.58 7.58 0.04 0.00 0.00 0.00 0.00

49.92 15.65 11.26 11.26 11.26 9.15 7.06 6.53 3.27 2.99

18.37 14.21 14.21 14.21 1.63 0.00 0.00 0.00 0.00 0.00

14.07 7.91 6.90 6.46 6.46 5.89 3.88 2.82 1.98 1.23

15.58 14.20 9.26 5.59 5.59 5.59 3.04 1.38 1.19 0.82

80.28 59.64 59.50 59.50 47.02 43.64 38.87 35.37 30.49 14.90

16.12 9.81 8.87 7.44 7.44 5.27 3.66 2.66 1.67 0.66

31.61 17.69 10.06 7.96 7.96 7.96 6.00 2.47 1.69 0.84

209.64 139.18 139.18 139.18 102.22 91.62 77.01 72.06 62.67 49.11

863.56 835.53 824.90 801.14 749.89 704.40 630.79 612.95 548.89 476.76

-236.89 -219.62 -123.13 -114.38 -85.71 -56.95 -28.16 -14.04 53.90 167.36

0.00 14.62 23.45 27.51 29.47 33.85 35.61 43.44 57.93 93.16

-206.10 -177.39 -95.29 -78.77 -45.63 -28.16 13.48 32.25 99.26 200.45

209.51 147.94 128.19 94.58 78.22 74.59 74.59 58.70 42.64 37.46

-321.12 -252.83 -235.20 -173.35 -158.02 -120.21 -71.96 -25.63 15.82 98.33

4.86 4.41 4.03 3.59 3.56 3.51 3.08 2.87 2.79 2.57

5.39 5.15 4.54 4.28 4.11 4.04 3.84 3.51 3.42 2.94

5.16 4.85 4.31 4.07 3.86 3.76 3.58 3.29 3.15 2.68

5.88 5.29 5.25 4.71 4.46 4.31 4.12 3.92 3.50 3.19

244.14 228.83 176.20 168.74 154.32 154.06 154.06 141.15 99.26 80.59

8.98 7.42 6.22 5.21 4.90 4.25 4.25 4.25 3.80 2.13






Seed 107.29 27

Fertilizer 128.17 27



Fuel & oil 26.42 27

Repairs 40.47 27

Custom hire 25.17 18

Land rent 149.78 27




Hired labor 19.17 23

Machinery leases 3.83 14


Utilities 1.44 24








Net return -69.92 27


Net return with govt pymts -42.54 27











Corn Silage on Owned Land

Avg. Of

Number of farms

All Farms

18

High 20%

4

Acres 126.87 152.92 Yield per acre (ton) 20.21 22.87 Operators share of yield % 100.00 100.00 Value per ton 41.46 41.15 Total product return per acre 837.82 941.06 Crop insurance per acre 1.67 0.22 Other crop income per acre 0.41 - Gross return per acre 839.90 941.28

Direct Expenses

Seed 118.67 112.99 Fertilizer 93.16 103.33 Crop chemicals 56.25 45.99 Non-chemical crop protect 2.31 8.62 Crop insurance 7.48 4.04 Storage 2.93 4.10 Packaging and supplies 4.15 4.96 Fuel & oil 33.64 34.33 Repairs 71.92 36.20 Custom hire 101.46 57.92 Hired labor 24.24 8.64 Machinery leases 16.29 0.98 Utilities 3.64 4.57 Hauling and trucking 2.18 - Operating interest 5.17 3.28 Miscellaneous 11.01 0.10

Total direct expenses per acre 554.50 430.05 Return over direct exp per acre 285.40 511.23

Overhead Expenses

Hired labor 19.99 24.94 RE & pers. property taxes 19.98 20.58 Farm insurance 9.28 5.17 Utilities 0.57 0.72 Dues & professional fees 3.05 2.54 Interest 58.10 56.93 Mach & bldg depreciation 44.41 39.02 Miscellaneous 12.19 4.51

Total overhead expenses per acre 167.58 154.42 Total dir & ovhd expenses per acre 722.08 584.47 Net return per acre 117.82 356.81

Government payments 20.78 24.03 Net return with govt pmts 138.60 380.84 Labor & management charge 88.21 68.96 Net return over lbr & mgt 50.39 311.88

Cost of Production

Total direct expense per ton 27.44 18.81 Total dir & ovhd exp per ton 35.73 25.56 Less govt & other income 34.60 24.50 With labor & management 38.97 27.52

Net value per unit 41.46 41.15 Machinery cost per acre 266.35 164.14 Est. labor hours per acre 7.69 5.48


Corn Silage 2017; Owned Land


Group

Median

Count

RankEm

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



11.25 15.73 17.33 18.72 19.54 20.46 21.12 21.73 22.65 26.90

28.00 35.00 38.75 40.00 40.00 40.00 43.50 45.00 45.00 45.00

450.00 566.10 713.50 745.51 771.24 795.67 878.50 896.00 944.14 1,210.49

450.00 580.60 722.27 745.51 771.24 804.79 878.50 896.00 944.14 1,210.49

171.63 147.53 123.64 118.80 116.65 114.66 107.31 99.30 92.98 66.05

231.13 157.68 134.71 126.67 110.12 92.23 68.66 59.32 52.58 42.76

99.38 83.64 72.92 66.08 58.21 51.90 47.41 40.26 26.06 9.45

61.91 46.87 40.82 36.99 34.21 32.53 31.04 26.50 16.87 9.12

218.20 126.60 78.42 68.21 59.70 54.01 48.66 37.94 30.99 10.13

341.50 303.42 239.14 196.11 126.55 97.67 40.74 17.50 14.41 13.55

8.54 8.21 7.19 6.05 4.68 4.47 3.71 3.65 3.16 2.51

33.94 18.23 11.77 10.85 6.77 4.23 2.72 1.91 0.47 0.02

797.54 723.06 669.32 636.06 575.04 556.87 511.30 471.34 383.01 295.12

-154.43 138.07 154.27 174.84 201.79 229.83 245.89 274.82 326.14 865.04

137.26 61.84 22.92 1.83 0.00 0.00 0.00 0.00 0.00 0.00

55.71 32.06 29.51 24.94 22.80 22.08 19.03 15.29 7.70 0.68

18.65 16.55 15.84 13.27 10.43 8.90 7.67 3.49 2.92 2.10

3.56 2.77 0.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00

10.41 8.26 7.62 5.27 4.38 3.40 2.13 1.77 1.13 0.80

21.66 17.54 14.96 10.70 6.88 5.37 3.70 1.89 1.37 1.11

84.40 74.97 74.67 70.17 63.78 53.75 39.80 19.92 12.98 8.71

105.25 56.52 50.39 47.40 45.16 40.84 34.20 22.14 10.53 7.80

13.15 11.67 11.21 9.45 6.16 4.44 3.25 2.85 2.28 0.10

39.73 32.44 26.62 19.30 13.54 9.46 7.47 6.16 1.93 0.61

308.32 210.60 181.74 174.00 154.84 152.60 123.03 109.10 99.04 52.83

921.70 901.28 870.76 800.26 732.02 675.39 663.65 595.44 533.57 449.27

-265.80 -4.20 7.74 27.12 38.58 61.35 90.31 108.83 197.91 641.39

0.00 0.00 0.00 8.32 14.62 20.83 29.12 32.50 39.99 55.30

-265.80 2.99 28.46 41.99 53.80 79.62 112.46 137.15 227.28 675.24

272.36 200.21 147.81 116.41 88.32 80.39 69.02 49.83 42.07 29.93

-317.68 -189.00 -92.08 -50.68 -32.31 -10.29 3.69 39.16 119.26 628.73

37.53 36.23 33.56 32.76 30.42 28.11 26.44 25.36 23.79 12.84

45.14 44.22 43.16 41.08 40.16 38.27 34.65 30.32 29.21 21.16

43.96 42.91 42.40 41.07 39.62 36.72 33.09 29.22 26.88 19.90

56.73 51.22 47.32 45.48 43.86 41.49 38.58 34.69 32.72 21.63

470.13 448.09 359.87 317.04 231.77 223.62 207.52 168.91 134.77 109.98

21.67 11.81 10.42 8.67 5.67 5.42 4.64 4.15 3.10 2.49

Yield per acre (ton) 19.92 18




Seed 116.32 18

Fertilizer 97.01 18


Fuel & oil 33.60 18

Repairs 57.25 18


Utilities 4.55 14




Hired labor 0.00 15



Utilities 0.00 17









Net return 44.21 18













Corn Silage on Cash Rented Land

Avg. Of

Number of farms

All Farms

17

High 20%

4

Acres 175.92 70.43 Yield per acre (ton) 20.15 23.54 Operators share of yield % 100.00 100.00 Value per ton 41.12 37.21 Total product return per acre 828.45 875.89 Crop insurance per acre 14.70 - Other crop income per acre 0.21 - Gross return per acre 843.36 875.89

Direct Expenses

Seed 129.20 121.46 Fertilizer 107.82 111.52 Crop chemicals 53.09 62.96 Non-chemical crop protect 0.81 3.85 Crop insurance 10.43 1.53 Storage 1.86 1.83 Packaging and supplies 7.29 0.82 Fuel & oil 30.40 21.43 Repairs 65.30 19.72 Custom hire 123.96 131.09 Hired labor 25.28 2.17 Land rent 96.87 76.26 Machinery leases 10.23 2.33 Utilities 4.20 6.58 Hauling and trucking 1.44 - Operating interest 5.99 7.98 Miscellaneous 11.61 1.89


Overhead Expenses

Hired labor 8.83 11.14 Farm insurance 9.62 3.56 Dues & professional fees 3.84 2.36 Interest 4.86 0.32 Mach & bldg depreciation 39.17 25.29 Miscellaneous 16.55 3.07



Cost of Production

Total direct expense per ton 34.04 24.36 Total dir & ovhd exp per ton 38.15 26.30 Less govt & other income 36.45 25.54 With labor & management 40.12 28.09



Corn Silage 2017; Cash Rented Land


Group

RankEm

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

Yield per acre (ton) 20.71 17 14.80 15.59 16.59 18.99 20.11 20.86 21.25 22.40 23.85 26.90

Value per unit 40.00 17 35.00 35.00 36.25 40.00 40.00 41.00 45.00 45.00 45.00 50.00

Total product value 801.19 17 666.00 676.92 719.13 760.19 795.67 838.09 878.50 896.00 944.14 1,210.49

Gross return 850.52 17 676.92 694.99 726.93 760.19 804.79 862.76 878.50 896.00 944.14 1,210.49

Seed 116.64 17 171.63 149.36 136.79 122.46 117.44 114.83 105.85 100.63 87.59 77.07

Fertilizer 98.07 17 166.67 155.83 149.15 128.44 111.58 97.01 88.20 68.88 59.32 54.26

Crop chemicals 51.38 17 114.19 89.15 76.71 69.42 60.14 51.05 42.70 37.60 30.24 17.80

Fuel & oil 30.84 17 61.91 48.58 46.87 40.82 34.66 29.83 27.40 23.21 16.68 9.12

Repairs 48.49 17 218.20 112.16 72.82 61.11 50.45 47.40 43.53 37.94 27.30 10.13

Custom hire 129.12 14 341.50 303.42 239.14 196.11 164.01 112.26 40.74 17.50 14.41 13.55

Land rent 83.93 17 199.87 192.00 157.67 117.70 94.70 82.08 61.25 53.61 44.95 37.12

Utilities 4.73 12 8.54 8.21 7.19 6.15 4.98 4.59 3.70 3.65 3.16 2.84

Operating interest 4.23 16 18.23 12.27 9.51 6.83 5.12 3.60 2.72 1.52 0.47 0.02

Miscellaneous 6.37 14 74.28 43.08 34.81 12.98 7.18 5.02 3.28 1.40 0.41 0.01

Total direct expenses 621.61 17 938.57 854.18 791.70 736.12 669.54 618.16 601.47 546.28 503.80 396.86

Return over direct expenses 172.68 17 -34.57 19.32 89.80 107.56 139.42 172.78 198.48 228.58 266.83 813.63

Hired labor 0.00 15 137.26 61.84 51.73 24.52 0.00 0.00 0.00 0.00 0.00 0.00

Farm insurance 7.90 17 18.65 16.55 15.84 12.07 9.95 7.77 7.14 5.10 2.92 2.10

Utilities 0.00 17 3.92 3.56 2.28 0.68 0.00 0.00 0.00 0.00 0.00 0.00

Dues & professional fees 3.73 15 10.41 8.17 7.52 5.99 4.76 3.73 3.00 1.91 1.26 0.80

Interest on interm. debt 3.70 14 21.66 17.54 10.98 6.73 4.97 3.41 1.48 1.23 1.23 0.69

Machinery depreciation 33.26 17 105.25 57.57 52.05 43.68 38.93 31.93 23.91 19.40 10.53 7.80

Building depreciation 4.89 17 13.15 11.67 11.03 9.04 6.16 4.45 3.21 3.00 2.28 0.10

Miscellaneous 7.03 16 39.73 35.65 23.72 13.54 8.03 6.78 4.41 2.27 1.84 0.20

Total overhead expenses 76.49 17 227.57 197.55 117.06 93.84 82.04 76.37 63.34 57.86 53.43 22.88

Total dir & ovhd expenses 707.33 17 1,015.05 966.51 912.00 875.17 734.22 693.61 659.49 628.62 576.17 519.46

Net return 82.23 17 -111.05 -84.51 -16.91 18.67 45.97 85.45 107.86 143.76 202.18 691.03

Government payments 16.88 17 0.00 0.00 0.00 8.32 14.62 20.83 27.62 32.50 39.99 88.09

Net return with govt pymts 96.65 17 -86.27 -84.51 17.15 40.18 54.41 109.62 136.60 169.99 217.65 724.88

Labor & management charge 74.85 17 161.76 161.03 98.11 85.75 80.39 69.02 55.90 45.94 37.00 29.93

Net return over lbr & mgt 14.98 17 -165.59 -150.42 -93.62 -50.88 -16.71 23.55 85.43 95.18 150.06 678.37

Direct cost of prod per unit 34.82 17 41.53 40.38 39.01 36.30 35.94 33.84 31.33 28.05 25.44 14.75

Dir & ovhd cost of prod/unit 40.04 17 46.02 44.91 44.08 43.08 41.62 38.72 35.18 31.87 27.15 19.31

COP less govt & other income 38.40 17 46.02 43.86 43.26 42.07 39.88 36.44 32.43 29.91 26.31 18.05

Cost of prod with lbr & mgt 42.45 17 49.40 47.82 47.40 45.75 44.14 42.36 35.98 34.63 28.79 19.78

Machinery cost per acre 229.52 17 470.13 456.89 398.44 323.65 257.69 224.97 201.54 157.72 119.04 108.19

Est. labor hours per acre 5.64 17 21.67 10.53 9.75 7.73 6.24 5.57 4.70 4.15 2.64 1.23

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

Page 17


2017 Annual Report © The Ohio State University Page 18


Hay, Alfalfa on Owned Land

Avg. Of

All Farms

Number of farms 6

Acres 76.00 Yield per acre (ton) 4.77 Operators share of yield % 100.00 Value per ton 108.50 Total product return per acre 517.83

Gross return per acre 517.83


15.62

Fertilizer 39.79 Crop chemicals 29.28 Crop insurance 1.58 Packaging and supplies 12.29 Fuel & oil 32.08 Repairs 62.66 Custom hire 13.75 Hired labor 31.12 Machinery leases 25.50 Utilities 3.85 Operating interest 6.28 Miscellaneous 11.58

Total direct expenses per acre 285.39

Return over direct exp per acre 232.44


3.02

RE & pers. property taxes 15.39 Farm insurance 8.86 Utilities 0.37 Dues & professional fees 3.71 Interest 46.04 Mach & bldg depreciation 55.90 Miscellaneous 12.24

Total overhead expenses per acre 145.52 Total dir & ovhd expenses per acre 430.91

Net return per acre 86.92

Government payments 31.76 Net return with govt pmts 118.68 Labor & management charge 122.25

Net return over lbr & mgt -3.57

Cost of Production Total direct expense per ton

59.80

Total dir & ovhd exp per ton 90.29 Less govt & other income 83.63

With labor & management 109.25


2017 Annual Report © The Ohio State University Page 19


Hay, Alfalfa on Cash Rented Land

Avg. Of

All Farms

Number of farms 10

Acres 139.70 Yield per acre (ton) 4.82 Operators share of yield % 100.00 Value per ton 118.75 Total product return per acre 572.08 Crop insurance per acre 8.19



21.78

Fertilizer 68.40 Crop chemicals 14.64 Crop insurance 0.30 Packaging and supplies 5.74 Fuel & oil 31.89 Repairs 71.60 Custom hire 73.68 Hired labor 35.22 Land rent 125.36 Machinery leases 6.04 Utilities 4.18 Operating interest 5.92 Miscellaneous 10.63




3.65

Farm insurance 11.57 Utilities 0.30 Dues & professional fees 4.03 Interest 8.07 Mach & bldg depreciation 38.59 Miscellaneous 18.00




Net return over lbr & mgt -39.65


98.68




2017 Annual Report © The Ohio State University


Hay, Mixed on Owned Land

Avg. Of

All Farms

Number of farms 4

Acres 136.75 Yield per acre (ton) 3.69 Operators share of yield % 100.00 Value per ton 108.67 Total product return per acre 401.10



15.53

Fertilizer 7.36 Crop chemicals 10.25 Packaging and supplies 3.15 Fuel & oil 20.67 Repairs 39.83 Custom hire 20.86 Hired labor 25.51 Machinery leases 20.28 Utilities 3.60 Operating interest 2.52 Miscellaneous 14.14



Overhead Expenses RE & pers. property taxes

19.64

Farm insurance 4.44 Dues & professional fees 1.85 Interest 54.63 Mach & bldg depreciation 34.07 Miscellaneous 13.69




Net return over lbr & mgt 38.73


49.77






Soybeans on Owned Land

Avg. Of

All Farms

Number of farms 14


Direct Expenses

Seed 59.37 Fertilizer 41.26 Crop chemicals 43.43 Crop insurance 11.14 Drying expense 0.95 Packaging and supplies 2.22 Fuel & oil 17.26 Repairs 26.22 Custom hire 8.35 Hired labor 21.07 Machinery leases 1.40 Utilities 2.22 Hauling and trucking 2.69 Marketing 1.13 Operating interest 4.40 Miscellaneous 10.15


Overhead Expenses

Hired labor 10.01 Machinery leases 0.81 RE & pers. property taxes 30.49 Farm insurance 6.24 Utilities 3.39 Dues & professional fees 3.22 Interest 54.80 Mach & bldg depreciation 34.23 Miscellaneous 5.41

Total overhead expenses per acre 148.59 Total dir & ovhd expenses per acre 401.87 Net return per acre 91.29

Government payments 28.73 Net return with govt pmts 120.01 Labor & management charge 47.38 Net return over lbr & mgt 72.63

Cost of Production



Soybeans 2017; Owned Land


Group

Median

Count

RankEm

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



31.29 39.32 42.78 45.00 48.50 49.90 52.42 56.97 60.54 63.93

9.00 9.05 9.13 9.24 9.33 9.46 9.55 9.75 9.85 9.92

292.54 358.58 408.92 426.11 448.35 457.50 493.84 544.65 585.42 629.67

292.54 358.58 409.78 433.06 448.35 457.50 493.84 544.65 596.71 638.27

81.73 81.73 80.18 71.52 65.54 57.22 45.77 38.81 32.33 24.31

74.50 68.18 52.02 47.67 40.25 34.42 34.42 15.80 8.70 1.56

102.57 102.57 79.60 54.70 47.90 36.43 34.74 32.37 26.92 9.45

27.35 27.35 27.35 24.84 14.55 14.09 13.06 10.58 8.09 6.11

54.21 36.43 23.44 17.73 16.26 15.01 14.41 13.89 13.24 11.05

102.27 40.84 35.53 32.89 29.85 24.33 18.83 16.25 15.92 15.40

7.71 7.19 5.95 4.71 4.62 4.46 3.71 3.65 2.51 2.32

16.97 14.51 14.51 14.51 7.26 4.81 3.31 1.10 0.85 0.09

350.10 349.00 314.73 306.27 293.16 247.58 222.68 192.35 150.37 142.23

84.01 104.35 121.32 150.42 160.76 220.76 277.54 314.95 346.16 389.37

30.92 28.99 11.46 10.46 10.46 5.23 0.00 0.00 0.00 0.00

74.88 72.38 46.57 45.32 45.32 32.69 23.02 20.16 7.70 0.68

18.32 9.27 8.63 6.74 6.14 5.81 5.21 3.96 1.75 1.63

12.20 7.75 7.75 4.57 0.45 0.00 0.00 0.00 0.00 0.00

9.72 6.13 3.99 3.52 3.52 2.63 2.07 1.36 0.99 0.40

10.83 8.77 6.34 4.35 3.44 3.05 3.05 0.89 0.55 0.52

99.68 99.68 99.68 87.18 66.99 53.75 43.70 37.51 8.71 2.04

108.48 52.63 43.79 32.45 32.45 25.19 23.70 21.94 16.92 5.92

35.08 7.90 5.17 4.45 4.06 3.35 1.85 1.48 0.94 0.05

15.39 14.61 13.31 7.25 5.16 4.63 4.34 4.14 3.52 0.92

296.90 220.92 220.92 195.90 166.23 135.65 109.07 99.49 60.25 26.75

645.90 536.79 531.24 463.22 404.81 392.57 369.48 301.82 245.64 215.01

-186.90 -116.57 -21.70 23.84 53.68 85.79 144.27 162.21 205.38 238.47

0.00 0.00 24.66 26.67 29.12 35.25 38.37 43.80 49.73 72.16

-150.24 -72.41 17.30 38.50 89.23 125.71 175.97 205.40 233.30 261.13

185.84 136.18 99.93 65.41 43.81 40.68 40.68 35.84 23.57 18.81

-336.08 -113.09 -22.44 7.78 23.20 71.72 115.40 139.53 169.05 209.31

7.78 7.40 6.75 6.27 5.34 4.82 4.29 3.96 3.50 2.67

12.66 12.58 10.02 8.94 8.15 7.82 7.24 6.83 5.30 4.39

11.95 11.55 9.30 8.31 7.45 6.94 6.41 6.34 4.57 3.80

15.59 12.50 10.12 9.07 8.64 8.41 7.16 7.07 6.56 4.90

268.76 145.70 104.05 97.62 81.48 78.81 78.81 73.05 70.89 60.30

12.65 6.02 4.61 2.80 2.57 2.34 2.32 2.16 1.55 0.92





Seed 61.44 17

Fertilizer 34.42 15



Fuel & oil 15.62 17

Repairs 24.59 17

Utilities 4.54 10







Utilities 0.00 16









Net return 69.89 17




Net return over lbr & mgt 57.90 17









Soybeans on Cash Rented Land

Avg. Of

Number of farms

All Farms

18

High 20%

4

Acres 256.55 219.50 Yield per acre (bu.) 50.74 54.74 Operators share of yield % 100.00 100.00 Value per bu. 9.55 9.81 Total product return per acre 484.31 537.10 Crop insurance per acre 5.60 - Other crop income per acre 1.24 - Gross return per acre 491.15 537.10

Direct Expenses

Seed 61.52 52.05 Fertilizer 36.78 57.32 Crop chemicals 49.84 35.16 Cover crop expense 0.70 - Crop insurance 11.72 12.33 Storage 0.58 - Packaging and supplies 8.43 2.25 Fuel & oil 17.79 14.19 Repairs 29.81 32.40 Custom hire 8.25 7.83 Hired labor 10.74 4.43 Land rent 138.25 69.25 Machinery leases 2.43 1.29 Utilities 2.23 0.99 Hauling and trucking 2.94 2.64 Marketing 0.54 - Operating interest 4.36 1.45 Miscellaneous 6.95 4.50


Overhead Expenses

Hired labor 8.23 19.59 Machinery leases 0.54 0.00 Building leases 0.56 0.21 Farm insurance 7.98 19.49 Utilities 2.96 9.40 Dues & professional fees 3.86 7.99 Interest 3.44 1.85 Mach & bldg depreciation 37.18 45.06 Miscellaneous 4.09 6.87



Cost of Production

Total direct expense per bu. 7.76 5.45 Total dir & ovhd exp per bu. 9.12 7.46 Less govt & other income 8.31 6.90 With labor & management 9.44 7.72



Soybeans 2017; Cash Rented Land


Group

RankEm

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

Yield per acre (bu.) 51.00 24 40.87 43.95 46.41 49.00 49.58 52.46 56.27 57.11 58.18 62.36

Value per unit 9.50 24 9.07 9.24 9.31 9.41 9.50 9.60 9.64 9.85 9.85 9.89

Total product value 469.71 24 388.31 408.92 439.69 456.00 461.44 516.73 545.07 556.77 564.56 608.04

Crop insurance 0.00 4 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Gross return 482.76 24 415.67 433.60 448.35 459.00 465.05 516.73 545.07 557.84 579.08 623.64

Seed 65.84 24 81.73 81.73 80.18 70.09 67.78 61.44 57.37 49.54 42.89 34.78

Fertilizer 34.42 21 78.41 60.10 47.86 44.67 37.71 34.42 34.42 34.42 14.02 9.22

Crop chemicals 49.27 24 102.57 102.57 92.09 64.13 51.40 45.32 35.58 32.37 28.44 24.95

Crop insurance 14.55 18 27.35 27.35 26.10 16.87 14.55 14.33 14.00 11.93 9.34 6.11

Fuel & oil 14.41 24 45.32 24.88 22.91 16.70 15.28 14.41 14.41 13.89 11.61 7.08

Repairs 24.16 24 88.56 37.85 33.30 32.10 24.59 21.46 16.25 16.25 16.25 14.83

Custom hire 8.51 15 64.23 37.27 32.41 19.53 9.10 8.51 8.51 8.51 3.13 0.98

Land rent 157.21 24 223.84 199.01 192.77 180.00 172.07 134.75 98.34 81.70 72.67 40.67

Hauling and trucking 8.77 14 9.05 9.05 9.05 9.05 9.05 8.28 7.50 2.91 1.63 1.03



Return over direct expenses 103.60 24 -91.86 -33.27 9.53 75.43 88.47 124.01 149.19 159.43 189.57 237.48

Hired labor 10.46 19 30.92 27.43 10.96 10.46 10.46 10.46 2.93 0.00 0.00 0.00

Farm insurance 6.14 24 27.23 12.85 8.63 6.14 6.14 6.13 4.84 3.71 2.28 1.67

Utilities 1.67 20 10.02 7.75 7.75 7.75 4.86 1.14 0.00 0.00 0.00 0.00





Miscellaneous 4.34 21 17.63 11.11 5.49 4.93 4.34 4.34 4.34 3.37 1.46 1.09


Total dir & ovhd expenses 472.17 24 686.84 579.24 555.42 523.83 501.69 448.38 428.50 385.58 361.30 309.34

Net return 44.73 24 -215.69 -79.71 -48.52 8.65 36.30 68.87 84.70 106.63 109.03 145.43


Net return with govt pymts 76.20 24 -183.72 -60.77 -18.45 41.33 64.02 102.58 114.17 126.38 155.46 175.62


Net return over lbr & mgt 36.50 24 -308.16 -110.09 -70.62 -2.58 35.35 41.34 64.03 71.08 86.04 130.05








Page 24




Wheat, Winter on Owned Land

Avg. Of

All Farms

Number of farms 7

Acres 69.39 Yield per acre (bu.) 63.86 Operators share of yield % 100.00 Value per bu. 4.65 Total product return per acre 297.03 Gross return per acre 297.03

Direct Expenses

Seed 39.57 Fertilizer 50.80 Crop chemicals 14.54 Crop insurance 5.47 Packaging and supplies 1.14 Fuel & oil 16.20 Repairs 23.25 Custom hire 29.73 Hired labor 12.34 Machinery leases 2.91 Utilities 2.37 Hauling and trucking 4.58 Marketing 0.43 Operating interest 2.03 Miscellaneous 6.43


Overhead Expenses

Hired labor 12.98 RE & pers. property taxes 31.14 Farm insurance 6.80 Utilities 3.68 Dues & professional fees 4.33 Interest 39.75 Mach & bldg depreciation 30.69 Miscellaneous 4.61


Government payments 26.71 Net return with govt pmts -22.03 Labor & management charge 45.47 Net return over lbr & mgt -67.51

Cost of Production





Wheat, Winter on Cash Rented Land

Avg. Of

Number of farms

All Farms

13


Direct Expenses

Seed 45.42 Fertilizer 47.03 Crop chemicals 16.17 Crop insurance 4.79 Packaging and supplies 1.69 Fuel & oil 17.99 Repairs 24.71 Custom hire 22.98 Hired labor 13.66 Land rent 133.99 Machinery leases 1.40 Utilities 2.44 Hauling and trucking 3.87 Marketing 1.98 Operating interest 4.30 Miscellaneous 8.39


Overhead Expenses

Hired labor 8.62 Machinery leases 0.70 Building leases 0.78 Farm insurance 4.90 Utilities 1.71 Dues & professional fees 2.48 Interest 1.46 Mach & bldg depreciation 28.38 Miscellaneous 3.45


Government payments 27.25 Net return with govt pmts 16.86 Labor & management charge 50.30 Net return over lbr & mgt -33.44

Cost of Production





Double Crop Rye/Tritcale/Small Grain Silage on Owned Land

Avg. Of

Number of farms

All Farms

10

Acres 158.60 Yield per acre (ton) 4.43 Operators share of yield % 100.00 Value per ton 75.11 Total product return per acre 333.08 Gross return per acre 333.08


40.51

Fertilizer 5.30 Packaging and supplies 7.11 Fuel & oil 14.92 Repairs 37.11 Custom hire 30.70 Hired labor 30.13 Machinery leases 18.44 Utilities 4.22 Hauling and trucking 3.14 Operating interest 3.21 Miscellaneous 4.09



5.58

RE & pers. property taxes 15.67 Farm insurance 5.82 Dues & professional fees 1.61 Interest 49.03 Mach & bldg depreciation 14.65 Miscellaneous 7.68




44.85

Total dir & ovhd exp per ton 67.41 Less govt & other income 66.40 With labor & management 75.85




Double Crop Rye/Triticale/Small Grain Silage on Cash Rented Land

Avg. Of

Number of farms

All Farms

10

Acres 153.80 Yield per acre (ton) 4.60 Operators share of yield % 100.00 Value per ton 77.18 Total product return per acre 355.24 Crop insurance per acre 9.62 Gross return per acre 364.86


41.83

Fertilizer 7.92 Storage 0.94 Packaging and supplies 5.88 Fuel & oil 14.91 Repairs 33.11 Custom hire 64.07 Hired labor 25.54 Land rent 83.15 Machinery leases 7.54 Utilities 4.63 Hauling and trucking 2.32 Operating interest 2.96 Miscellaneous 7.11



4.83

Farm insurance 5.40 Dues & professional fees 1.88 Interest 2.47 Mach & bldg depreciation 14.82 Miscellaneous 8.30




65.60

Total dir & ovhd exp per ton 73.79 Less govt & other income 70.63 With labor & management 78.70



Corn 2017; Owned Land; Cash Rented Land


Group

RankEm

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

Yield per acre (bu.) 177.34 44 111.38 137.62 155.15 165.00 171.64 179.75 184.66 193.97 200.00 214.93

Value per unit 3.70 44 3.08 3.35 3.50 3.54 3.61 3.75 3.79 3.79 3.80 3.88


Crop insurance 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 624.93 44 348.67 518.79 549.26 592.10 618.75 649.09 696.84 735.61 766.77 814.59

Seed 113.01 44 118.03 116.32 113.24 113.17 113.17 107.29 99.74 94.82 85.74 73.59

Fertilizer 128.17 44 231.13 161.82 152.26 129.56 128.17 128.17 105.24 88.52 65.73 50.89

Crop chemicals 56.40 44 99.38 85.96 85.96 83.00 62.00 54.42 43.37 35.86 25.96 17.10

Crop insurance 17.40 34 30.67 29.32 29.32 27.63 18.70 15.77 12.92 8.52 8.52 5.26

Fuel & oil 26.42 44 44.53 43.95 35.26 30.62 26.42 26.42 26.42 24.27 20.96 7.02

Repairs 42.30 44 107.55 63.01 59.89 53.36 44.45 39.34 29.80 29.80 28.58 23.64

Custom hire 25.17 29 118.19 82.32 36.90 32.41 25.51 25.17 25.17 25.17 13.55 7.42

Land rent 149.78 27 223.84 199.01 193.25 180.00 174.53 141.73 88.01 80.22 50.00 33.49

Utilities 4.62 25 8.10 7.49 6.67 5.95 4.71 4.48 3.71 2.84 2.41 1.94



Return over direct expenses 80.32 44 -161.80 -72.50 -21.93 29.09 53.47 110.78 138.47 183.33 261.66 293.25

Hired labor 13.46 36 56.69 53.14 21.55 19.17 19.17 1.49 0.00 0.00 0.00 0.00

Farm insurance 9.74 44 33.59 15.65 12.35 11.26 11.26 9.15 7.00 5.74 3.13 2.99

Utilities 0.00 40 18.37 14.21 14.21 2.61 1.44 0.00 0.00 0.00 0.00 0.00





Miscellaneous 7.96 40 29.73 16.31 9.86 7.97 7.96 7.96 6.84 5.94 1.69 1.49



Net return -35.00 44 -262.41 -203.72 -119.11 -95.10 -56.95 -27.78 -13.37 37.66 76.35 189.94


Net return with govt pymts -13.15 44 -230.75 -160.02 -92.33 -53.02 -28.16 5.40 29.16 71.36 123.06 217.59


Net return over lbr & mgt -109.22 44 -321.12 -252.83 -211.26 -169.77 -120.21 -69.18 -26.24 7.21 37.84 115.05









Corn Silage 2017; Owned Land; Cash Rented Land


Group

RankEm

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


Value per unit 40.00 35 35.00 35.00 37.50 40.00 40.00 40.00 45.00 45.00 45.00 45.00

Total product value 796.83 35 466.20 676.92 720.00 745.51 790.11 799.01 878.50 896.00 932.03 1,210.49

Crop insurance 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 815.09 35 466.20 694.99 722.61 745.51 790.11 832.80 878.50 896.00 932.03 1,210.49

Seed 116.64 35 171.63 145.70 127.88 119.39 116.67 114.66 105.85 99.64 96.08 77.07

Fertilizer 98.07 35 166.67 149.61 139.85 127.31 111.58 95.94 79.85 64.29 55.56 50.89

Crop chemicals 52.42 35 99.38 78.13 75.29 68.28 59.20 51.38 44.10 39.22 27.38 17.80

Fuel & oil 31.65 35 61.91 47.95 41.01 39.15 34.21 31.44 28.43 24.81 22.67 9.12

Repairs 51.73 35 218.20 112.16 75.15 65.94 56.29 49.18 45.23 37.94 31.17 10.13

Custom hire 119.63 28 341.50 303.42 200.49 191.72 126.86 113.02 45.99 35.49 14.41 13.55

Hired labor 32.13 22 63.57 48.27 43.80 36.90 36.38 30.33 23.86 19.94 18.67 9.38

Utilities 4.67 26 8.54 8.21 7.19 5.95 4.74 4.48 3.71 3.65 3.16 2.68


Miscellaneous 6.60 27 74.28 43.08 34.81 9.04 7.76 6.60 3.30 2.50 0.41 0.01



Hired labor 0.00 30 137.26 51.73 22.92 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Farm insurance 8.90 34 18.65 16.24 15.44 11.88 9.95 7.80 7.14 3.41 3.26 2.10

Utilities 0.00 34 3.56 2.77 1.35 0.00 0.00 0.00 0.00 0.00 0.00 0.00





Miscellaneous 9.02 34 39.73 29.23 26.62 16.83 10.55 7.47 6.78 3.50 2.02 0.61



Net return 51.35 35 -111.05 -9.13 5.24 25.28 41.59 79.56 99.21 127.18 197.39 641.39


Net return with govt pymts 76.88 35 -86.27 5.24 23.70 41.99 53.80 89.50 128.55 153.74 200.83 675.24


Net return over lbr & mgt -3.81 35 -195.48 -150.42 -65.11 -50.88 -32.31 3.69 23.55 90.88 119.15 628.73









Page 31


Hay, Alfalfa 2017; Owned Land; Cash Rented Land


Group

RankEm

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


Value per unit 100.00 16 100.00 100.00 100.00 100.00 100.00 112.50 125.00 138.75 150.00 200.00


Gross return 530.00 16 448.55 448.55 466.67 469.65 501.32 530.63 633.50 825.00 889.43 984.25

Seed 19.02 12 49.65 31.25 24.65 24.65 21.11 18.03 17.91 17.91 7.35 7.35

Fertilizer 87.53 12 113.72 107.99 107.99 100.00 100.00 72.18 60.00 43.52 32.98 32.98

Crop chemicals 31.84 12 96.25 43.75 43.75 36.17 34.00 25.87 14.93 14.93 8.89 1.00

Fuel & oil 30.24 16 48.58 45.79 43.21 36.30 31.65 28.43 26.75 26.25 23.37 23.05

Repairs 52.73 16 112.16 81.68 78.42 66.68 57.25 49.18 47.40 43.53 42.79 42.79

Custom hire 28.39 11 221.47 80.31 32.82 28.87 28.39 24.18 19.96 17.10 13.55 13.55

Hired labor 36.38 11 63.57 63.57 48.27 36.90 36.90 35.15 33.92 17.56 10.55 8.21

Utilities 4.74 13 7.19 7.19 6.15 5.95 5.58 4.73 3.71 3.65 3.65 2.84



Return over direct expenses 169.01 16 -100.38 -10.53 42.65 54.63 150.01 181.84 237.90 522.83 640.15 743.63

Hired labor 0.00 13 51.73 22.92 22.92 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Machinery leases 0.00 10 0.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Farm insurance 9.95 16 18.65 16.24 15.45 13.46 10.23 8.79 7.70 7.04 3.41 3.41

Utilities 0.00 16 3.92 2.77 1.39 0.00 0.00 0.00 0.00 0.00 0.00 0.00





Miscellaneous 11.20 15 39.73 35.65 26.63 22.21 14.50 9.55 7.47 6.79 3.50 2.52



Net return 31.70 16 -191.07 -87.01 -35.61 -4.89 21.06 70.92 113.75 368.30 442.59 659.61


Net return with govt pymts 60.82 16 -154.52 -62.23 -8.56 18.90 47.84 94.38 147.91 409.85 497.97 659.61


Net return over lbr & mgt -45.98 16 -260.44 -240.69 -162.12 -125.15 -56.87 -19.00 55.48 368.35 460.35 574.28








Page 32


Soybeans 2017; Owned Land; Cash Rented Land


Group

RankEm

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

Yield per acre (bu.) 50.80 41 39.92 42.89 45.00 48.50 49.02 51.00 54.85 56.83 58.10 63.45

Value per unit 9.50 41 9.03 9.15 9.30 9.37 9.50 9.50 9.63 9.77 9.85 9.89


Crop insurance 0.00 5 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Gross return 465.05 41 378.96 432.00 440.74 452.66 459.48 483.29 527.57 551.06 564.56 633.97

Seed 64.89 41 81.73 81.73 76.73 68.20 66.20 61.44 53.93 45.77 40.16 29.57

Fertilizer 34.42 36 74.50 68.18 48.99 44.67 37.52 34.42 34.42 26.66 10.89 8.70

Crop chemicals 47.13 41 102.57 102.57 73.25 58.00 50.04 41.11 35.33 34.18 28.83 24.95

Crop insurance 14.55 29 27.35 27.35 27.35 17.01 14.55 14.12 14.06 12.79 10.58 6.11

Fuel & oil 14.41 41 45.32 23.97 20.52 16.70 15.59 14.41 14.41 14.41 13.24 11.05

Repairs 24.25 41 88.56 37.58 33.11 31.35 26.37 24.08 16.25 16.25 16.25 15.49

Custom hire 8.51 24 50.75 34.84 26.27 13.55 8.51 8.51 8.51 8.51 5.82 2.06

Land rent 157.21 24 223.84 199.01 192.77 180.00 172.07 134.75 98.34 81.70 72.67 40.67




Hired labor 10.46 32 30.92 25.86 10.46 10.46 10.46 7.34 0.00 0.00 0.00 0.00


Farm insurance 6.14 41 18.32 9.21 7.72 6.14 6.14 6.13 5.11 3.90 2.28 1.67

Utilities 0.89 36 12.20 7.75 7.75 7.75 1.39 0.00 0.00 0.00 0.00 0.00





Miscellaneous 4.34 37 15.39 13.31 8.90 5.38 4.91 4.34 4.34 4.14 2.35 0.92



Net return 57.26 41 -192.42 -71.21 -6.60 19.39 49.20 69.89 94.05 109.03 153.37 205.38


Net return with govt pymts 100.70 41 -155.77 -44.23 24.43 50.89 76.20 107.19 124.21 155.46 180.15 233.30


Net return over lbr & mgt 36.70 41 -302.64 -101.67 -22.44 7.67 30.79 57.90 66.59 89.99 130.05 169.05








Page 33


Wheat, Winter 2017; Owned Land; Cash Rented Land


Group

RankEm

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

Yield per acre (bu.) 71.20 21 48.07 56.11 57.12 61.65 65.00 71.97 82.50 90.51 95.08 100.02

Value per unit 4.74 21 4.16 4.35 4.47 4.50 4.52 4.75 4.77 4.87 5.20 5.51


Gross return 333.76 21 220.97 246.37 250.09 292.50 315.35 355.98 411.26 453.51 490.97 537.80

Seed 39.68 21 87.18 64.48 53.59 44.45 40.39 35.00 34.25 33.49 28.94 24.07

Fertilizer 61.47 18 88.70 79.81 70.63 67.81 64.97 57.15 50.69 42.33 25.61 20.86

Fuel & oil 14.41 21 28.38 24.29 23.97 20.54 15.55 14.41 14.22 13.25 11.61 9.38

Repairs 22.07 21 49.64 33.22 30.60 26.37 23.70 22.07 18.83 16.25 15.59 11.18

Custom hire 28.96 14 169.60 70.78 43.61 36.63 33.95 21.49 6.96 6.96 0.98 0.98

Land rent 141.73 13 199.87 199.01 192.00 185.16 177.27 138.24 109.13 83.83 80.22 52.35

Utilities 4.71 13 7.71 7.19 6.15 5.95 4.96 4.21 3.68 2.84 1.56 0.50


Miscellaneous 7.09 12 74.28 34.81 17.53 15.52 8.18 6.20 3.30 2.42 0.01 0.01


Return over direct expenses 58.69 21 -98.68 -88.54 -61.28 -2.71 32.07 61.24 93.87 105.20 165.58 298.83

Hired labor 2.93 16 30.92 30.92 27.43 10.46 7.34 0.81 0.00 0.00 0.00 0.00


Farm insurance 3.95 21 27.23 7.72 6.14 6.13 5.07 3.86 3.65 3.48 2.24 1.63

Utilities 0.00 18 12.20 7.79 7.75 1.43 0.45 0.00 0.00 0.00 0.00 0.00





Miscellaneous 3.52 19 19.86 8.85 5.49 4.34 4.14 3.40 3.24 1.75 1.35 0.92



Net return -47.45 21 -160.88 -128.73 -105.83 -84.73 -66.59 -45.87 -15.74 3.12 89.01 235.34


Net return with govt pymts -21.34 21 -135.14 -100.24 -67.19 -57.59 -45.24 -19.94 12.99 36.78 114.60 264.27


Net return over lbr & mgt -72.50 21 -210.85 -154.80 -118.64 -86.51 -75.90 -70.43 -45.99 -27.18 68.30 213.31








Page 34


Rye/Triticale/Small Grain Silage 2017; Owned and Cash Rented; Double Crop


Group

RankEm

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

2.92 2.98 3.00 3.12 3.25 3.92 4.25 4.58 6.11 7.05

31.00 42.50 53.75 66.25 80.00 85.00 85.00 90.00 90.00 95.00

98.62 145.50 181.94 250.00 251.23 270.00 346.25 412.50 488.89 599.36

98.62 145.50 181.94 250.00 251.23 270.00 346.25 437.16 488.89 599.36

64.60 58.86 54.38 37.50 37.42 29.28 24.94 23.25 20.27 19.49

30.96 20.51 20.31 18.84 15.42 13.57 11.51 6.00 5.16 2.73

109.10 56.08 38.04 34.11 28.06 19.00 15.31 12.89 5.24 3.38

166.67 94.90 94.90 93.49 35.49 31.13 22.40 17.50 14.42 14.42

48.27 48.27 43.80 36.38 35.15 30.33 26.90 19.94 19.94 17.56

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

8.54 8.54 8.21 7.18 5.68 4.74 4.48 4.09 3.70 3.70

6.46 5.79 5.43 3.86 2.12 1.58 0.78 0.58 0.23 0.01

34.81 34.81 8.44 8.10 7.18 6.37 3.26 1.91 0.41 0.41

388.34 310.29 267.55 241.33 213.05 203.49 191.10 170.42 147.39 91.16

-103.80 -44.14 13.50 37.16 62.24 82.96 86.76 105.25 189.10 415.81

68.63 68.63 19.46 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

9.32 8.27 7.72 6.64 4.95 3.82 3.44 2.42 1.36 0.64

1.87 1.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

5.20 5.20 2.27 1.88 1.86 1.70 1.27 1.06 0.54 0.14

5.49 5.49 3.12 3.07 1.75 1.48 0.98 0.80 0.61 0.55

28.24 19.64 18.43 14.18 11.70 9.07 8.69 8.06 6.20 4.18

6.57 5.77 4.73 4.52 3.52 2.45 1.60 1.37 0.85 0.70

17.82 14.11 10.17 7.63 4.51 3.73 3.08 2.20 1.17 0.56

135.65 116.97 110.28 97.37 70.39 50.55 36.32 30.55 25.80 10.71

424.69 400.59 361.96 337.40 311.79 261.40 243.40 230.14 215.13 122.22

-217.59 -87.72 -48.10 -37.71 -4.15 17.55 38.59 53.32 77.82 368.23

0.00 0.00 0.00 0.00 0.00 3.44 13.20 14.42 14.83 16.88

-217.59 -80.52 -48.10 -30.50 9.86 24.96 48.72 59.34 85.16 371.67

80.88 59.00 52.88 43.08 40.72 37.42 31.59 25.59 22.62 10.34

-255.01 -134.46 -100.92 -73.95 -17.24 2.31 10.76 14.42 42.03 330.95

91.30 80.09 72.11 67.10 61.30 56.96 52.77 38.34 32.29 20.80

124.80 107.82 93.12 87.51 80.30 74.73 63.95 58.13 35.99 32.64

122.40 105.42 91.56 81.27 75.91 72.85 63.95 54.83 35.85 32.29

141.66 129.95 106.43 89.79 85.29 80.93 70.26 62.73 39.69 37.59

205.95 179.08 162.66 143.42 126.45 109.22 83.44 65.75 55.26 15.87

10.84 5.27 4.60 3.55 2.82 2.60 2.49 2.29 1.62 0.71

Yield per acre (ton)

Median

3.56

Count

20




Seed 33.30 20

Fuel & oil 14.72 20

Repairs 22.31 20




Utilities 4.74 15





Hired labor 0.00 17



Utilities 0.00 20








Net return 8.21 20











Appendix I

Crop Enterprise Analysis Procedures and Measures

The Crop Enterprise Analyses show the profitability of each crop enterprise produced by four 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.

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.

2017 Ohio Farm Business Summary...enterprise summary includes the average for all farms, and the...

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