Kansas

A just-released summary of Kansas Farm Management Association member records shows average net farm income for 2004 was $62,604, up from $51,051 in 2003 and well above the $19,106 average in 2002. The 2004 summary comprises 1,746 KFMA member operations.

"Average net farm income was up last year, but that doesn't mean every farm had higher net income," said Sam Funk, the association's administrator. "In fact, the data from western Kansas again reflected drought conditions' persisting in some of those areas."

Net farm income on northwest Kansas KFMA farms averaged $45,801, down from $59,988 a year earlier. Average net farm income in southwest Kansas fell to $29,927 from $37,329 in 2003.

"Wheat in some of those areas just didn't work well because of the dry conditions last year," Funk said. "Plus, the cost of irrigation was a factor in western parts of the state. We looked at costs, as well as income."

Net farm income in northeast Kansas, however, climbed to $77,393, compared to $38,630 in 2003. Average NFI in southeast Kansas jumped to $84,394 from $63,155 a year earlier.

Net farm income for farms in the central part of the state held relatively steady, with north central Kansas farms' averaging $51,670, down slightly from $52,511 in 2003. NFI for farms in the south central part of the state averaged $52,709 compared with $43,628 in 2003.

Although the data came from KFMA member farms, rather than a statewide survey, Funk said that it still reflects "a pretty good reading for where agriculture's going around the state."

Cattle worked well for some farms, with "cash crop-beef" operations' net farm income averaging $80,306 and "cash crop-backgrounding" at $79,308. The "cash crop-dairy" operation average was $81,068 and the "cash crop-cowherd" average was $49,613.

For more information, including the summary of the KFMA report, interested persons can visit K-State's Department of Agricultural Economics website: www.agmanager.info and click on KFMA Executive Summary.

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Management program provides production, financial information

Kansas

The Kansas Farm Management Association, a part of Kansas State University Research and Extension, is one of the largest publicly-funded farm management programs in the United States, according to KFMA administrator Sam Funk.

Twenty-three economists, who are faculty members in K-State's Department of Agricultural Economics, comprise the KFMA program's professional staff. They work with member farm families in providing production and financial management information for use in decision making.

Currently, about 2,700 farms and 3,500 families belong to the KFMA.

For more information about the KFMA, interested persons can visit its website: www.agecon.ksu.edu/KFMA/.

Date: 5/26/05

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