Southwest KFMA
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       2005 DATA - SW KANSAS  
       INCOME AND EXPENSE ANALYSIS  
       SORTED BY AGE OF OPERATOR                          41 - 45                                  46 - 50  
                                                         13 FARMS                                  23 FARMS 
      
             ITEM                                        PER FARM                                  PER FARM 
      
        1  BEEF                                            41,559                                    79,249 
        2  DAIRY AND MILK     
        3  SHEEP                                           14,765                                        87 
        4  SWINE                                                                                        -44 
        5  POULTRY AND EGGS   
        6  OTHER LIVESTOCK                                   -369                                     1,542 
        7  CUSTOM FEEDING                                                                            35,650 
        8  FEED PURCHASED                                 -12,110                                   -39,516 
        9     LIVESTOCK INCOME                       $     43,845                              $     76,967 
      
       10  CORN                                            15,843                                    80,329 
       11  GRAIN SORGHUM                                   17,164                                    15,534 
       12  SOYBEANS                                         7,921                                    15,848 
       13  SUNFLOWERS   
       14  WHEAT                                           61,384                                    86,330 
       15  HAY AND FORAGE                                     488                                    13,990 
       16  OTHER CROP                                       1,779                                    32,390 
       17  GOVERNMENT PAYMENTS                             52,148                                    81,775 
       18  CROP INSURANCE PROCEEDS                         14,579                                    13,055 
       19  OTHER INCOME                                    43,665                                    45,028 
       20     VALUE OF FARM PRODUCTION               $    258,816                              $    461,247 
      
       21  HIRED LABOR                                     27,401                                    33,144 
       22  MACHINERY REPAIRS                               19,311                                    40,374 
       23  IRRIGATION REPAIRS                               2,976                                     8,560 
       24  BUILDING REPAIRS                                 2,216                                     3,179 
       25  INTEREST PAID                                   17,887                                    26,418 
       26  SEED-OTHER CROP EXPENSE                          8,084                                    28,401 
       27  CROP INSURANCE                                   5,966                                     7,936 
       28  FERTILIZER-LIME                                 29,216                                    43,399 
       29  MACHINE HIRE                                    36,017                                    54,214 
       30  ORGANIZATION FEE, PUBLICATION                    4,682                                     6,153 
       31  VET-MED-DRUGS                                    2,653                                     9,088 
       32  CROP STORAGE-MARKETING                               5                                     9,667 
       33  LIVESTOCK MARKETING-BREEDING                       960                                     2,796 
       34  DAIRY EXPENSE
       35  GAS-FUEL-OIL                                    15,481                                    31,053 
       36  IRRIGATION ENERGY                               17,242                                    26,655 
       37  REAL ESTATE TAXES                                5,478                                     4,844 
       38  PERSONAL PROPERTY TAXES                          1,046                                     1,930 
       39  GENERAL FARM INSURANCE                           4,159                                     8,036 
       40  UTILITIES                                        7,382                                     6,653 
       41  CASH FARM RENT                                  21,570                                    23,967 
       42  HERBICIDE-INSECTICIDE                           17,690                                    33,151 
       43  CONSERVATION                                         1                                       955 
       44  AUTO EXPENSE                                       148                                     1,093 
       45     TOTAL OPERATING EXPENSE                $    247,569                              $    411,667 
      
       46  DEPRECIATION-MACHINERY                          16,278                                    27,963 
       47  DEPRECIATION-BUILDINGS                           1,074                                     2,807 
       48     TOTAL FARM EXPENSE                     $    264,920                              $    442,436 
      
       49     NET FARM INCOME                        $     -6,104                              $     18,811 
      
       50  UNPAID FAMILY LABOR                                519                                     1,370 
       51  UNPAID OPERATOR LABOR                           23,885                                    30,522 
       52  MANAGEMENT CHARGE                                4,035                                     9,391 
       53  CURRENT ASSET CHARGE - 8%                        9,742                                     4,076 
       54  NONCURRENT ASSET CHARGE - 8%                    42,243                                    44,109 
       55  RETURN LABOR-MANAGEMENT                        -58,608                                   -30,744 
       56  RETURN TO CAPITAL                              -16,657                                     3,946 
       57  ASSET TURNOVER RATIO                             .2679                                     .4413 
       58  OPERATING PROFIT MARGIN RATIO                   -.0644                                     .0086 
       59  % RETURN ON ASSETS                              -.0172                                     .0038 
       60  % RETURN ON EQUITY                              -.0532                                    -.0373 
       61  TOTAL EXPENSE RATIO                             1.0236                                     .9592 
       62  ADJUSTED TOTAL EXPENSE RATIO                    1.1335                                    1.0487 
       63  ECONOMIC TOTAL EXPENSE RATIO                    1.3343                                    1.1532 
      
       ASSETS/LOANS/FINANCIAL RATIOS             JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31    
      
       64  CURRENT ASSETS                          207,959               207,174             232,246               305,844    
       65  NONCURRENT ASSETS                       736,709               780,391             734,416               817,857    
       66  CURRENT LIABILITIES                      57,632               113,954             193,089               243,091    
       67  NONCURRENT LIABILITIES                  219,540               241,493             200,236               249,312    
       68  CURRENT RATIO                              3.61                  1.82                1.20                  1.26    
       69  DEBT TO ASSET RATIO                         .29                   .36                 .41                   .44    
      
       2005 DATA - SW KANSAS  
       ANALYSIS OF THE FARM BUSINESS
       SORTED BY AGE OF OPERATOR                          41 - 45                                  46 - 50  
      
       AVERAGE ASSET & NET WORTH VALUES   
       70  BREEDING LIVESTOCK                              34,063                                    51,975 
       71  MACHINERY AND EQUIPMENT                         72,841                                   141,619 
       72  MOTOR VEHICLES & LISTED PROPE                   60,631                                   118,453 
       73  BUILDINGS                                       11,648                                    35,177 
       74  OWNED LAND                                     593,730                                   457,739 
       75  TOTAL ASSETS                                   966,117                                 1,045,182 
       76  NET WORTH                                      649,807                                   602,318 
      
       LABOR
       77  NUMBER OF OPERATORS                                .88                                      1.13 
       78  NUMBER OF WORKERS                                 1.58                                      2.06 
       79  TOTAL WORK DAYS                                    239                                       293 
       80  VALUE FARM PRODUCTION/WORKER                   163,331                                   223,812 
       81  NET FARM INCOME/WORKER                          -3,852                                     9,128 
      
       PER OPERATOR BASIS     
       82  TOTAL ASSETS                                 1,092,132                                   924,584 
       83  VALUE OF FARM PRODUCTION                       292,575                                   408,027 
       84  NET FARM INCOME                                 -6,900                                    16,640 
      
       OTHER FACTORS    
       85  % CROP ACRES IRRIGATED                           15.46                                     22.25 
       86  % TILLABLE LAND                                  59.13                                     75.44 
       87  CROP MACH COST/TOT EXPENSE(%)                    20.19                                     28.16 
      
       ACRES                              TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT    
       88  TOTAL ACRES                     2748    13   2523     9   1085    12       2544    23    944    22   1987    19    
       89  NON-IRRIGATED CROP ACRES        1488    12    880     9   1105     9       1560    22    586    21   1224    18    
       90  IRRIGATED CROP ACRES             544     6                                  702    14    331    10    592    11    
       91  TOTAL CROP ACRES                1625    13   1047     9   1170    10       2007    22    743    21   1586    18    
       92  PASTURE ACRES                   1615     9   2210     6    255     5       1023    14    638     8    921    10    
       93  FARMSTEAD ACRES                                                              10     5
      
       CROP VALUE, COSTS, ACRES              TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE 
       94  ACRES                                          1625          1026                        1919          1346  
       95  CROP MACHINERY INVESTMENT          106,952         65.82        104.27        218,183        113.67        162.13  
       96  CROP MACHINERY COST                 53,485         32.91         52.14        124,583         64.91         92.57  
       97  GROSS CROP VALUE                   231,499        142.46        225.69        365,075        190.20        271.28  
       98  CROP PRODUCTION COSTS              175,700        108.12        171.29        365,402        182.09        259.72  
      
       NON-IRRIGATED ACRES                       AVE.     OWNED         RENTED             AVE.      OWNED        RENTED
                                          CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD  
       99  CORN                                                                        4    283                  231    31.3  
      100  GRAIN SORGHUM                    5    476                  424    73.4     13    267    212    67.3   253    63.4  
      101  SOYBEANS     
      102  SUNFLOWERS   
      103  WHEAT                           10    521    286    37.6   581    46.3     21    708    256    38.1   555    37.5  
      104  OTHER CROPS  
      105  ALFALFA
      106  OTHER HAY & FORAGE               8    265    504            27              6    152                   70    
      107  VEGETABLES   
      108  TRUCK CROPS  
      109  FRUIT - FLOWERS - TREES  
      
       IRRIGATED ACRES                           AVE.     OWNED         RENTED             AVE.      OWNED        RENTED
                                          CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD  
      110  CORN                                                                        8    532                  529   180.0  
      111  GRAIN SORGHUM                                                               5    145 
      112  SOYBEANS                                                                    6    242                  184    52.8  
      113  SUNFLOWERS   
      114  WHEAT                                                                       8    189    197    45.8   130    58.1  
      115  OTHER CROPS  
      116  ALFALFA
      117  OTHER HAY & FORAGE                                                          4    218                   93    
      118  VEGETABLES   
      119  TRUCK CROPS  
      120  FRUIT - FLOWERS - TREES  
      
       AVERAGE LIVESTOCK INVENTORIES AND SALES  
      121  BEEF COWS                                           18                                         7 
      122  DAIRY COWS   
      123  EWES   
      124  SOWS   
      125  BEEF PURCH. FOR RESALE SALES                       160                                       112 
      126  SWINE PURCH. FOR RESALE SALES  
      127  TURKEYS
      
      
       2005 DATA - SW KANSAS  
       INCOME AND EXPENSE ANALYSIS  
       SORTED BY AGE OF OPERATOR                          51 - 55                                  56 - 60  
                                                         18 FARMS                                  16 FARMS 
      
             ITEM                                        PER FARM                                  PER FARM 
      
        1  BEEF                                            34,996                                    44,896 
        2  DAIRY AND MILK                                      -9 
        3  SHEEP                                               78                                       -34 
        4  SWINE  
        5  POULTRY AND EGGS   
        6  OTHER LIVESTOCK                                   -113                                      -764 
        7  CUSTOM FEEDING                                                                             3,963 
        8  FEED PURCHASED                                  -5,245                                   -12,564 
        9     LIVESTOCK INCOME                       $     29,708                              $     35,496 
      
       10  CORN                                            13,342                                    31,748 
       11  GRAIN SORGHUM                                   23,922                                    14,438 
       12  SOYBEANS                                         8,587                                     3,051 
       13  SUNFLOWERS                                                                                 1,058 
       14  WHEAT                                           70,937                                    73,582 
       15  HAY AND FORAGE                                  16,480                                    -3,015 
       16  OTHER CROP                                         412                                       708 
       17  GOVERNMENT PAYMENTS                             41,073                                    55,035 
       18  CROP INSURANCE PROCEEDS                          2,529                                     8,301 
       19  OTHER INCOME                                     9,364                                    12,211 
       20     VALUE OF FARM PRODUCTION               $    216,354                              $    232,612 
      
       21  HIRED LABOR                                     29,328                                     8,029 
       22  MACHINERY REPAIRS                               21,867                                    20,298 
       23  IRRIGATION REPAIRS                               1,076                                     1,897 
       24  BUILDING REPAIRS                                 1,547                                     3,077 
       25  INTEREST PAID                                    9,599                                    11,542 
       26  SEED-OTHER CROP EXPENSE                          8,385                                    10,984 
       27  CROP INSURANCE                                   5,536                                     6,962 
       28  FERTILIZER-LIME                                 22,637                                    22,554 
       29  MACHINE HIRE                                    10,467                                    13,833 
       30  ORGANIZATION FEE, PUBLICATION                    2,408                                     2,255 
       31  VET-MED-DRUGS                                    1,345                                     1,894 
       32  CROP STORAGE-MARKETING                             734                                        49 
       33  LIVESTOCK MARKETING-BREEDING                       659                                     1,401 
       34  DAIRY EXPENSE                                        6 
       35  GAS-FUEL-OIL                                    21,429                                    16,578 
       36  IRRIGATION ENERGY                                7,961                                     7,327 
       37  REAL ESTATE TAXES                                5,118                                     6,961 
       38  PERSONAL PROPERTY TAXES                          1,273                                     1,103 
       39  GENERAL FARM INSURANCE                           4,018                                     4,674 
       40  UTILITIES                                        3,662                                     4,425 
       41  CASH FARM RENT                                  11,768                                     5,426 
       42  HERBICIDE-INSECTICIDE                           20,472                                    19,264 
       43  CONSERVATION                                         9                                        10 
       44  AUTO EXPENSE                                     1,807                                       732 
       45     TOTAL OPERATING EXPENSE                $    193,109                              $    171,274 
      
       46  DEPRECIATION-MACHINERY                          17,617                                    18,073 
       47  DEPRECIATION-BUILDINGS                           1,899                                     1,441 
       48     TOTAL FARM EXPENSE                     $    212,625                              $    190,788 
      
       49     NET FARM INCOME                        $      3,728                              $     41,824 
      
       50  UNPAID FAMILY LABOR                                750                                     1,688 
       51  UNPAID OPERATOR LABOR                           27,300                                    24,300 
       52  MANAGEMENT CHARGE                                5,909                                    11,619 
       53  CURRENT ASSET CHARGE - 8%                        9,949                                    15,823 
       54  NONCURRENT ASSET CHARGE - 8%                    46,621                                    48,055 
       55  RETURN LABOR-MANAGEMENT                        -53,591                                   -23,742 
       56  RETURN TO CAPITAL                              -20,632                                    15,759 
       57  ASSET TURNOVER RATIO                             .2499                                     .2331 
       58  OPERATING PROFIT MARGIN RATIO                   -.0954                                     .0677 
       59  % RETURN ON ASSETS                              -.0238                                     .0158 
       60  % RETURN ON EQUITY                              -.0428                                     .0053 
       61  TOTAL EXPENSE RATIO                              .9828                                     .8202 
       62  ADJUSTED TOTAL EXPENSE RATIO                    1.1397                                     .9819 
       63  ECONOMIC TOTAL EXPENSE RATIO                    1.4012                                    1.2565 
      
       ASSETS/LOANS/FINANCIAL RATIOS             JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31    
      
       64  CURRENT ASSETS                          198,749               188,385             241,545               269,127    
       65  NONCURRENT ASSETS                       669,972               674,491             737,027               748,259    
       66  CURRENT LIABILITIES                      68,316                70,106              59,711                55,386    
       67  NONCURRENT LIABILITIES                   93,074                85,868             147,533               136,369    
       68  CURRENT RATIO                              2.91                  2.69                4.05                  4.86    
       69  DEBT TO ASSET RATIO                         .19                   .18                 .21                   .19    
      
       2005 DATA - SW KANSAS  
       ANALYSIS OF THE FARM BUSINESS
       SORTED BY AGE OF OPERATOR                          51 - 55                                  56 - 60  
      
       AVERAGE ASSET & NET WORTH VALUES   
       70  BREEDING LIVESTOCK                              36,300                                    21,117 
       71  MACHINERY AND EQUIPMENT                         85,760                                    62,560 
       72  MOTOR VEHICLES & LISTED PROPE                   90,826                                    91,965 
       73  BUILDINGS                                       21,025                                    16,174 
       74  OWNED LAND                                     396,855                                   545,925 
       75  TOTAL ASSETS                                   865,799                                   997,979 
       76  NET WORTH                                      707,117                                   798,479 
      
       LABOR
       77  NUMBER OF OPERATORS                               1.01                                       .90 
       78  NUMBER OF WORKERS                                 1.45                                      1.37 
       79  TOTAL WORK DAYS                                    223                                       264 
       80  VALUE FARM PRODUCTION/WORKER                   148,640                                   169,172 
       81  NET FARM INCOME/WORKER                           2,562                                    30,418 
      
       PER OPERATOR BASIS     
       82  TOTAL ASSETS                                   856,284                                 1,108,865 
       83  VALUE OF FARM PRODUCTION                       213,976                                   258,458 
       84  NET FARM INCOME                                  3,688                                    46,471 
      
       OTHER FACTORS    
       85  % CROP ACRES IRRIGATED                           19.65                                      7.57 
       86  % TILLABLE LAND                                  74.60                                     72.01 
       87  CROP MACH COST/TOT EXPENSE(%)                    37.17                                     35.47 
      
       ACRES                              TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT    
       88  TOTAL ACRES                     2153    18   1147    14   1261    18       3099    16   1411    16   2077    13    
       89  NON-IRRIGATED CROP ACRES        1290    18    748    14    750    17       2063    16    702    16   1814    12    
       90  IRRIGATED CROP ACRES             473    12    312     5    375    11        450     6    173     5     
       91  TOTAL CROP ACRES                1606    18    859    14    937    18       2232    16    756    16   1967    12    
       92  PASTURE ACRES                   1221     8    495     8   1163     5       1255    11   1042    10    563     6    
       93  FARMSTEAD ACRES                   13     5     12     5                      16     5     12     5     
      
       CROP VALUE, COSTS, ACRES              TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE 
       94  ACRES                                          1606          1076                        2232          1385  
       95  CROP MACHINERY INVESTMENT          164,317        102.32        152.68        137,435         61.58         99.21  
       96  CROP MACHINERY COST                 79,028         49.21         73.43         67,673         30.32         48.85  
       97  GROSS CROP VALUE                   212,399        132.26        197.36        262,165        117.47        189.25  
       98  CROP PRODUCTION COSTS              187,895        117.00        174.59        159,429         71.44        115.09  
      
       NON-IRRIGATED ACRES                       AVE.     OWNED         RENTED             AVE.      OWNED        RENTED
                                          CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD  
       99  CORN   
      100  GRAIN SORGHUM                    9    282    187    65.1   203    75.8     11    263    124    66.8   269    62.3  
      101  SOYBEANS     
      102  SUNFLOWERS   
      103  WHEAT                           18    616    408    39.0   340    38.8     14   1128    324    34.5   965    34.6  
      104  OTHER CROPS  
      105  ALFALFA
      106  OTHER HAY & FORAGE               5    112                                   5     63     64
      107  VEGETABLES   
      108  TRUCK CROPS  
      109  FRUIT - FLOWERS - TREES  
      
       IRRIGATED ACRES                           AVE.     OWNED         RENTED             AVE.      OWNED        RENTED
                                          CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD  
      110  CORN                                                                        5    377    186   175.2    
      111  GRAIN SORGHUM                    4    194                  129   108.4   
      112  SOYBEANS                         4    115                   91    50.6   
      113  SUNFLOWERS   
      114  WHEAT                            6    200                  175    49.1   
      115  OTHER CROPS  
      116  ALFALFA                          5    338                  212     4.4   
      117  OTHER HAY & FORAGE 
      118  VEGETABLES   
      119  TRUCK CROPS  
      120  FRUIT - FLOWERS - TREES  
      
       AVERAGE LIVESTOCK INVENTORIES AND SALES  
      121  BEEF COWS                                           21                                        10 
      122  DAIRY COWS   
      123  EWES   
      124  SOWS   
      125  BEEF PURCH. FOR RESALE SALES                        36                                       145 
      126  SWINE PURCH. FOR RESALE SALES  
      127  TURKEYS
      
      
       2005 DATA - SW KANSAS  
       INCOME AND EXPENSE ANALYSIS  
       SORTED BY AGE OF OPERATOR                          61 - 65                                  66 - 70  
                                                         10 FARMS                                  11 FARMS 
      
             ITEM                                        PER FARM                                  PER FARM 
      
        1  BEEF                                            50,136                                    16,108 
        2  DAIRY AND MILK     
        3  SHEEP  
        4  SWINE  
        5  POULTRY AND EGGS   
        6  OTHER LIVESTOCK                                -16,553                                      -673 
        7  CUSTOM FEEDING                                                                             3,177 
        8  FEED PURCHASED                                  -6,348                                    -4,270 
        9     LIVESTOCK INCOME                       $     27,235                              $     14,342 
      
       10  CORN                                            42,451                                    15,990 
       11  GRAIN SORGHUM                                   12,731                                    18,289 
       12  SOYBEANS                                        15,317                                     1,970 
       13  SUNFLOWERS                                                                                    -5 
       14  WHEAT                                           48,314                                    47,056 
       15  HAY AND FORAGE                                  16,285                                     2,838 
       16  OTHER CROP                                         799                                    -1,896 
       17  GOVERNMENT PAYMENTS                             42,414                                    44,765 
       18  CROP INSURANCE PROCEEDS                          2,849                                     4,678 
       19  OTHER INCOME                                     8,780                                    11,697 
       20     VALUE OF FARM PRODUCTION               $    217,176                              $    159,723 
      
       21  HIRED LABOR                                     10,122                                     6,058 
       22  MACHINERY REPAIRS                               11,022                                    15,806 
       23  IRRIGATION REPAIRS                               2,528                                     1,351 
       24  BUILDING REPAIRS                                   895                                       657 
       25  INTEREST PAID                                   13,329                                     6,924 
       26  SEED-OTHER CROP EXPENSE                         12,932                                     5,428 
       27  CROP INSURANCE                                   6,057                                     5,639 
       28  FERTILIZER-LIME                                 23,892                                    20,341 
       29  MACHINE HIRE                                    13,789                                     7,774 
       30  ORGANIZATION FEE, PUBLICATION                    1,808                                     3,846 
       31  VET-MED-DRUGS                                    5,507                                     1,656 
       32  CROP STORAGE-MARKETING                             515                                       107 
       33  LIVESTOCK MARKETING-BREEDING                       130                                        32 
       34  DAIRY EXPENSE
       35  GAS-FUEL-OIL                                    12,823                                    12,343 
       36  IRRIGATION ENERGY                               16,469                                     5,166 
       37  REAL ESTATE TAXES                                4,331                                     7,236 
       38  PERSONAL PROPERTY TAXES                            990                                       746 
       39  GENERAL FARM INSURANCE                           3,533                                     4,642 
       40  UTILITIES                                        2,975                                     3,157 
       41  CASH FARM RENT                                   3,389                                     1,489 
       42  HERBICIDE-INSECTICIDE                           15,454                                    15,155 
       43  CONSERVATION                                         9 
       44  AUTO EXPENSE                                       795                                       684 
       45     TOTAL OPERATING EXPENSE                $    163,293                              $    126,237 
      
       46  DEPRECIATION-MACHINERY                          14,546                                    11,877 
       47  DEPRECIATION-BUILDINGS                             810                                     1,349 
       48     TOTAL FARM EXPENSE                     $    178,648                              $    139,463 
      
       49     NET FARM INCOME                        $     38,527                              $     20,261 
      
       50  UNPAID FAMILY LABOR                              2,925 
       51  UNPAID OPERATOR LABOR                           24,840                                    27,000 
       52  MANAGEMENT CHARGE                               10,731                                     7,484 
       53  CURRENT ASSET CHARGE - 8%                        4,050                                    10,952 
       54  NONCURRENT ASSET CHARGE - 8%                    44,154                                    64,612 
       55  RETURN LABOR-MANAGEMENT                        -12,601                                   -55,303 
       56  RETURN TO CAPITAL                               13,360                                    -7,300 
       57  ASSET TURNOVER RATIO                             .2470                                     .1516 
       58  OPERATING PROFIT MARGIN RATIO                    .0615                                    -.0457 
       59  % RETURN ON ASSETS                               .0152                                    -.0069 
       60  % RETURN ON EQUITY                               .0001                                    -.0151 
       61  TOTAL EXPENSE RATIO                              .8226                                     .8732 
       62  ADJUSTED TOTAL EXPENSE RATIO                     .9999                                    1.0890 
       63  ECONOMIC TOTAL EXPENSE RATIO                    1.2218                                    1.5621 
      
       ASSETS/LOANS/FINANCIAL RATIOS             JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31    
      
       64  CURRENT ASSETS                          256,062               276,535             178,876               192,948    
       65  NONCURRENT ASSETS                       612,399               613,559             852,638               882,358    
       66  CURRENT LIABILITIES                     207,406               223,952              47,833                50,195    
       67  NONCURRENT LIABILITIES                   65,528                56,581              60,089                59,617    
       68  CURRENT RATIO                              1.23                  1.23                3.74                  3.84    
       69  DEBT TO ASSET RATIO                         .31                   .32                 .10                   .10    
      
       2005 DATA - SW KANSAS  
       ANALYSIS OF THE FARM BUSINESS
       SORTED BY AGE OF OPERATOR                          61 - 65                                  66 - 70  
      
       AVERAGE ASSET & NET WORTH VALUES   
       70  BREEDING LIVESTOCK                              18,980                                    11,382 
       71  MACHINERY AND EQUIPMENT                         54,928                                    57,944 
       72  MOTOR VEHICLES & LISTED PROPE                   70,218                                    83,971 
       73  BUILDINGS                                       10,794                                    14,943 
       74  OWNED LAND                                     451,210                                   667,174 
       75  TOTAL ASSETS                                   879,277                                 1,053,410 
       76  NET WORTH                                      602,544                                   944,543 
      
       LABOR
       77  NUMBER OF OPERATORS                                .92                                      1.00 
       78  NUMBER OF WORKERS                                 1.43                                      1.11 
       79  TOTAL WORK DAYS                                    265                                       233 
       80  VALUE FARM PRODUCTION/WORKER                   151,871                                   142,842 
       81  NET FARM INCOME/WORKER                          26,942                                    18,119 
      
       PER OPERATOR BASIS     
       82  TOTAL ASSETS                                   955,736                                 1,053,410 
       83  VALUE OF FARM PRODUCTION                       236,060                                   159,723 
       84  NET FARM INCOME                                 41,877                                    20,261 
      
       OTHER FACTORS    
       85  % CROP ACRES IRRIGATED                           24.25                                      8.58 
       86  % TILLABLE LAND                                  80.05                                     85.13 
       87  CROP MACH COST/TOT EXPENSE(%)                    32.56                                     41.84 
      
       ACRES                              TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT    
       88  TOTAL ACRES                     1940    10    927     9   1382     8       2189    11   1388    10   1133     9    
       89  NON-IRRIGATED CROP ACRES        1307     9    661     8    925     7       1703    11    870    10   1115     9    
       90  IRRIGATED CROP ACRES             753     5                 472     5        293     6    328     5     
       91  TOTAL CROP ACRES                1553    10    837     8   1104     8       1863    11   1034    10   1128     9    
       92  PASTURE ACRES                                                               581     6    574     6     
       93  FARMSTEAD ACRES                                                              18     5     18     5     
      
       CROP VALUE, COSTS, ACRES              TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE 
       94  ACRES                                          1553          1010                        1863          1011  
       95  CROP MACHINERY INVESTMENT          116,493         75.03        115.31        136,511         73.27        134.98  
       96  CROP MACHINERY COST                 58,176         37.47         57.59         58,348         31.32         57.69  
       97  GROSS CROP VALUE                   243,262        156.67        240.80        201,527        108.16        199.26  
       98  CROP PRODUCTION COSTS              155,540        100.17        153.96        136,712         73.38        135.18  
      
       NON-IRRIGATED ACRES                       AVE.     OWNED         RENTED             AVE.      OWNED        RENTED
                                          CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD  
       99  CORN   
      100  GRAIN SORGHUM                    4    248    193    66.5                    6    261    181    56.1   211    66.7  
      101  SOYBEANS     
      102  SUNFLOWERS   
      103  WHEAT                            8    555    214    31.4   562    38.5     11    669    251    39.5   607    37.0  
      104  OTHER CROPS  
      105  ALFALFA
      106  OTHER HAY & FORAGE 
      107  VEGETABLES   
      108  TRUCK CROPS  
      109  FRUIT - FLOWERS - TREES  
      
       IRRIGATED ACRES                           AVE.     OWNED         RENTED             AVE.      OWNED        RENTED
                                          CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD  
      110  CORN                             4    328  
      111  GRAIN SORGHUM
      112  SOYBEANS     
      113  SUNFLOWERS   
      114  WHEAT                                                                       4    151    151    50.9    
      115  OTHER CROPS  
      116  ALFALFA
      117  OTHER HAY & FORAGE 
      118  VEGETABLES   
      119  TRUCK CROPS  
      120  FRUIT - FLOWERS - TREES  
      
       AVERAGE LIVESTOCK INVENTORIES AND SALES  
      121  BEEF COWS                                           23                                        10 
      122  DAIRY COWS   
      123  EWES   
      124  SOWS   
      125  BEEF PURCH. FOR RESALE SALES                       132                                        34 
      126  SWINE PURCH. FOR RESALE SALES  
      127  TURKEYS
      
      
       2005 DATA - SW KANSAS  
       INCOME AND EXPENSE ANALYSIS  
       SORTED BY AGE OF OPERATOR                             > 70 
                                                         23 FARMS 
      
             ITEM                                        PER FARM                                  PER FARM 
      
        1  BEEF                                            35,630 
        2  DAIRY AND MILK                                  10,424 
        3  SHEEP                                              -43 
        4  SWINE  
        5  POULTRY AND EGGS   
        6  OTHER LIVESTOCK                                     87 
        7  CUSTOM FEEDING     
        8  FEED PURCHASED                                 -10,127 
        9     LIVESTOCK INCOME                       $     35,970 
      
       10  CORN                                            13,834 
       11  GRAIN SORGHUM                                   12,743 
       12  SOYBEANS                                         5,187 
       13  SUNFLOWERS                                         130 
       14  WHEAT                                           39,545 
       15  HAY AND FORAGE                                   6,077 
       16  OTHER CROP                                          62 
       17  GOVERNMENT PAYMENTS                             44,792 
       18  CROP INSURANCE PROCEEDS                          7,128 
       19  OTHER INCOME                                     6,735 
       20     VALUE OF FARM PRODUCTION               $    172,205 
      
       21  HIRED LABOR                                     10,225 
       22  MACHINERY REPAIRS                               14,357 
       23  IRRIGATION REPAIRS                               1,605 
       24  BUILDING REPAIRS                                   983 
       25  INTEREST PAID                                    7,590 
       26  SEED-OTHER CROP EXPENSE                          5,533 
       27  CROP INSURANCE                                   3,383 
       28  FERTILIZER-LIME                                 16,421 
       29  MACHINE HIRE                                    15,125 
       30  ORGANIZATION FEE, PUBLICATION                    2,335 
       31  VET-MED-DRUGS                                    2,619 
       32  CROP STORAGE-MARKETING                             230 
       33  LIVESTOCK MARKETING-BREEDING                     1,225 
       34  DAIRY EXPENSE                                      121 
       35  GAS-FUEL-OIL                                     9,721 
       36  IRRIGATION ENERGY                                6,580 
       37  REAL ESTATE TAXES                                6,124 
       38  PERSONAL PROPERTY TAXES                            601 
       39  GENERAL FARM INSURANCE                           2,999 
       40  UTILITIES                                        3,163 
       41  CASH FARM RENT                                     401 
       42  HERBICIDE-INSECTICIDE                           13,042 
       43  CONSERVATION                                       314 
       44  AUTO EXPENSE                                     1,052 
       45     TOTAL OPERATING EXPENSE                $    125,749 
      
       46  DEPRECIATION-MACHINERY                          11,460 
       47  DEPRECIATION-BUILDINGS                             892 
       48     TOTAL FARM EXPENSE                     $    138,101 
      
       49     NET FARM INCOME                        $     34,103 
      
       50  UNPAID FAMILY LABOR
       51  UNPAID OPERATOR LABOR                           25,239 
       52  MANAGEMENT CHARGE                                9,727 
       53  CURRENT ASSET CHARGE - 8%                       13,218 
       54  NONCURRENT ASSET CHARGE - 8%                    57,370 
       55  RETURN LABOR-MANAGEMENT                        -36,485 
       56  RETURN TO CAPITAL                                6,727 
       57  ASSET TURNOVER RATIO                             .1722 
       58  OPERATING PROFIT MARGIN RATIO                    .0391 
       59  % RETURN ON ASSETS                               .0067 
       60  % RETURN ON EQUITY                              -.0010 
       61  TOTAL EXPENSE RATIO                              .8020 
       62  ADJUSTED TOTAL EXPENSE RATIO                    1.0050 
       63  ECONOMIC TOTAL EXPENSE RATIO                    1.4149 
      
       ASSETS/LOANS/FINANCIAL RATIOS             JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31    
      
       64  CURRENT ASSETS                          211,186               223,423    
       65  NONCURRENT ASSETS                       778,446               787,368    
       66  CURRENT LIABILITIES                      51,299                52,861    
       67  NONCURRENT LIABILITIES                   63,053                68,504    
       68  CURRENT RATIO                              4.12                  4.23    
       69  DEBT TO ASSET RATIO                         .12                   .12    
      
       2005 DATA - SW KANSAS  
       ANALYSIS OF THE FARM BUSINESS
       SORTED BY AGE OF OPERATOR                             > 70 
      
       AVERAGE ASSET & NET WORTH VALUES   
       70  BREEDING LIVESTOCK                              22,847 
       71  MACHINERY AND EQUIPMENT                         63,553 
       72  MOTOR VEHICLES & LISTED PROPE                   75,897 
       73  BUILDINGS                                       12,891 
       74  OWNED LAND                                     611,338 
       75  TOTAL ASSETS                                 1,000,211 
       76  NET WORTH                                      882,353 
      
       LABOR
       77  NUMBER OF OPERATORS                                .93 
       78  NUMBER OF WORKERS                                 1.34 
       79  TOTAL WORK DAYS                                    183 
       80  VALUE FARM PRODUCTION/WORKER                   127,765 
       81  NET FARM INCOME/WORKER                          25,302 
      
       PER OPERATOR BASIS     
       82  TOTAL ASSETS                                 1,069,994 
       83  VALUE OF FARM PRODUCTION                       184,219 
       84  NET FARM INCOME                                 36,483 
      
       OTHER FACTORS    
       85  % CROP ACRES IRRIGATED                           11.63 
       86  % TILLABLE LAND                                  77.71 
       87  CROP MACH COST/TOT EXPENSE(%)                    39.80 
      
       ACRES                              TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT    
       88  TOTAL ACRES                     2110    23   1257    22   1099    19     
       89  NON-IRRIGATED CROP ACRES        1449    23    828    22   1008    15     
       90  IRRIGATED CROP ACRES             627     7    300     6
       91  TOTAL CROP ACRES                1640    23    910    22   1041    17     
       92  PASTURE ACRES                    719    14    577    13    428     6     
       93  FARMSTEAD ACRES                   93     8     17     8
      
       CROP VALUE, COSTS, ACRES              TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE 
       94  ACRES                                          1640           777  
       95  CROP MACHINERY INVESTMENT          121,635         74.18        156.60   
       96  CROP MACHINERY COST                 54,966         33.52         70.76   
       97  GROSS CROP VALUE                   176,234        107.47        226.89   
       98  CROP PRODUCTION COSTS              124,498         75.92        160.28   
      
       NON-IRRIGATED ACRES                       AVE.     OWNED         RENTED             AVE.      OWNED        RENTED
                                          CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD  
       99  CORN   
      100  GRAIN SORGHUM                   12    225    145    75.4   138    75.8   
      101  SOYBEANS     
      102  SUNFLOWERS   
      103  WHEAT                           19    496    311    40.3   273    39.6   
      104  OTHER CROPS  
      105  ALFALFA
      106  OTHER HAY & FORAGE               8    315     62 
      107  VEGETABLES   
      108  TRUCK CROPS  
      109  FRUIT - FLOWERS - TREES  
      
       IRRIGATED ACRES                           AVE.     OWNED         RENTED             AVE.      OWNED        RENTED
                                          CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD  
      110  CORN   
      111  GRAIN SORGHUM                    4    142     98    84.1     
      112  SOYBEANS     
      113  SUNFLOWERS   
      114  WHEAT  
      115  OTHER CROPS  
      116  ALFALFA
      117  OTHER HAY & FORAGE 
      118  VEGETABLES   
      119  TRUCK CROPS  
      120  FRUIT - FLOWERS - TREES  
      
       AVERAGE LIVESTOCK INVENTORIES AND SALES  
      121  BEEF COWS                                            5 
      122  DAIRY COWS   
      123  EWES   
      124  SOWS   
      125  BEEF PURCH. FOR RESALE SALES                        53 
      126  SWINE PURCH. FOR RESALE SALES  
      127  TURKEYS