FINANCIAL CHARACTERISTICS OF NORTH DAKOTA FARMS 1997-1999
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The performance of over 530 North Dakota farms, 1997-1999, 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 1991-1999 period are also presented. Financial performance in 1999 was the best since 1993, and had great improvement 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. Although crop prices were low in 1999, there was extraordinary government and crop insurance payments, and improved beef cattle prices. Median net farm income was 42,009 in 1999, $19,491 in 1998 and $14,290 in 1997.