FINANCIAL CHARACTERISTICS OF NORTH DAKOTA FARMS 1998-2000

The performance of over 530 North Dakota farms, 1998-2000, is summarized using 16 financial measures. Farms are categorized by geographic region, farm type, farm size, gross cash sales, farm tenure, net farm income, debt-to-asset, and age of farmer to analyze relationships between financial performance and farm characteristics. Farm financial trends for the 1991-2000 period are also presented.Financial performance in 2000 and 1999 was the highest since 1993. Performance was much improved from 1997 and 1998 when one-fourth of farms had negative net farm income and over one-half of farms were not able to make scheduled term debt payments with the year's income. Crop prices were low in 2000 and 1999, but yields were generally good, beef cattle prices were improved and there was extraordinary government and crop insurance payments. Median net farm income was $45,085 in 2000, $42,009 in 1999 and $19,491 in 1998.