2015 North Dakota Agricultural Outlook: Representative Farms, 2015-2024
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Net farm income in North Dakota was at record levels for most representative farms in
2012. However, net farm income fell for both 2013 and 2014 and is expected to continue to fall
through 2024. Commodity prices are expected to decrease slowly from current levels.
Commodity yields are projected to increase at historical trend-line rates and production expenses
are expected to return to normal growth rates. Debt-to-asset ratios for all farms except for the
high profit farm will increase slightly throughout the forecast period. Debt-to-asset ratios for the
high profit farms are expected to decrease slightly.