1997 NORTH DAKOTA AGRICULTURAL OUTLOOK: REPRESENTATIVE FARMS 1996- 2005
Won W. KOO
Marvin R. DUNCAN
Richard D. TAYLOR
Net farm income for all representative farms will be lower in 2003 than in 1995-96, but net farm income will be level throughout the 1997-2005 period. Cropland prices are projected to fall in all regions of North Dakota after peaking in 1996-97. Cash rental rates are projected to follow cropland prices. Debt-to-asset ratios for most farms, although rising across the forecast period, will not reach levels that imperil credit worthiness. Debt-to-asset ratios for the low profit and small size farms are higher than those for large and high profit farms. Keywords: Net farm income; debt-to- asset ratio; cropland prices; land rental rates; farm operating expenses; capitalization rate
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