2014 North Dakota Agricultural Outlook: Representative Farms, 2014-2023
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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 2013 and is expected to continue to fall through 2023. 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 low profit farm will increase slightly throughout the forecast period. Debt-to-asset ratios for the low-profit farms are expected to increase slightly.