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Report: Kansas farm income more than doubled in 2007WICHITA, Kan. (AP)--Bolstered by good fall crops and soaring commodity prices, Kansas farm families saw their income more than double in 2007, a new report shows. The average net farm income in Kansas last year was $115,035, according to the Kansas Farm Management Association at Kansas State University. That compared with a statewide average of $46,593 the previous year. The report was compiled from 1,453 Kansas farms that participate in the KFMA program, one of the nation's largest with 20 economists working with farming operations. The average value of farm production among its members statewide last year was pegged at $407,787, with average farm expenses of $292,752. The average government payment per farm was $24,000. "I knew western Kansas was going to be pretty high, but I was surprised by how high it was. Things clicked--particularly in northwest Kansas," said Michael Langemeier, a Kansas State University professor involved with the project. Farmers in northwest Kansas made the most money as they harvested a bountiful winter wheat crop followed by good fall crops at a time of high commodity prices. Their average net farm income was $233,000 in northwest Kansas--nearly four times the previous year's income for the area. Among the top 25 percent of farms in that region, net income averaged as high as $589,408. Farm families in north-central and south-central Kansas had the lowest net incomes in the state. But even in these regions net incomes were far higher than usual as crop insurance coupled with good fall harvests of corn and sorghum helped offset losses from a late spring freeze and harvest rains that plagued the 2007 winter wheat crop. "South-central and southeast Kansas had a very large percent of producers who had crop insurance," Langemeier said. "It doesn't make up for all the losses, but it did help." North-central Kansas, where the wheat crop was especially hard hit by the late spring frost, saw net average farm income of $81,288. Incomes ranged from averages of $213,291 for the region's top 25 percent of farms to losses of $14,442 for farms at its bottom 25 percent. The five-year average for the region is $53,655. Among other areas: --South-central Kansas net farm income averaged $88,849. --In southwest Kansas, average net farm income was $108,397. --Northeast Kansas posted average net farm income of $114,118. It was very evident that farmers last year were taking advantage of the good income year to buy machinery and land, Langemeier said. The good times did not affect family living expenses much, however. Kansas farm families in 2007 used $50,261 for living expenses, up from $45,752 the previous year. The added farm income went mostly to replace machinery, make principle payments and buy assets, he said. Farm income also varied widely depending on whether producers were growing crops or raising livestock. The best incomes were posted by irrigated crop operations where the average was $280,585. But Kansas ranching operations with cow herds had average net income of $23,633. 5/19/08 Date: 5/15/08
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