1. Missouri FBMA 2007 Analysis and Comparisons

2. 2007 FBMA Record Summary 143 Farms Submitted Analysis –122 Included in Summary 53 with enterprise analysis 69 with whole farm only –21 Not Included 6 with less than 250 unpaid hours and/or small gross income 15 with incomplete or missing data – corrections not made several more came after summary completed 16 1 st –year balance sheets only

12. Demographics – 122 Farms Missouri FBMA-2007 2,591 Farms FINBIN Gross Cash Farm Income Total Cash Expense Net Cash Farm Income Inventory Changes Depreciation/Capital Adjustments MO 2005 MO 2006 MO 2007 2007 FINBIN 97 farms 80 farms 122 farms 2,591 farms $ 325,631 $394,389 $391,192 $592,664 $273,566 $327,150 $315,503 $496,996 $52,065 $67,239 $75,689 $95,669 $6,925 $31,317 $58,884 $89,498 -$6,510 -$11,894 -$11,878 -$29,025

13. Demographics – (continued) Net Farm Income (cash) Value of Farm Production Total Labor Hours/Farm Net Farm Income/Unpaid Hour MO 2005 MO 2006 MO 2007 2007 FINBIN (97Farms) (80 Farms) (122 Farms) (2,591 farms) $62,480 $86,662 $122,695 $156,142 $252,846 $335,070 $367,326 $558,064 2,657 3,323 3,152 4,234 $39.33 $47.78 $70.91 $61.88

14. Demographics – Acres 2005 2006 2007 2007 FINBIN 97 Farms 80 Farms 122 farms 2,591 Farms Total Acres Owned 420 426 436 268 Total Crop Acres 686 830 739 779 Crop Acres Cash Rented 222 260 236 545

15. Demographics – Operators 2005 2006 2007 2007 FINBIN 97 Farms 80 Farms 122 farms 2,591 Farms Average Age of 47.6 47.4 46.3 46.8 Operator Average Number 24.3 25.3 23.6 23.4 of Years Farming

16. Demographics – Crop Yields MO Ag. Statistical ServiceMO FBMA Farms 2005/Avg2006/Avg2007/Avg2005/Avg2006/Avg2007/Avg Corn 11113814266128137 Soybeans 3738373040 Winter Wheat 54 43654748 Grain Sorghum 768596707989 Hay 1.71.862.3

17. Current Ratio 2005 FBMA Avg. 97 Farms Low 25%High 25% 2.23 1.23 3.46 2006 FBMA Avg. 80 Farms Low 25%High 25% 2.62 1.79 2.71 2007 FBMA Avg. 122 Farms Low 25%High 25% 2.67 1.33 3.62 2007 FINBIN Avg. 2,591 Farms Low 20%High 20% 1.89 1.15 2.34

18. Working Capital 2005 FBMA Avg. 97 Farms Low 25%High 25% $110,781 $7,647 $316,359 2006 FBMA Avg. 80 Farms Low 25%High 25% $168,332 $22,065 $319,485 2007 FBMA Avg. 122 Farms Low 25%High 25% $188,384 $33,255 $470,344 2007 FINBIN Avg. 2,591 Farms Low 20%High 20% $189,283 $21,951 $553,973

19. Farm Debt to Asset Ratio (MKT) 2005 FBMA Avg. 97 Farms Low 25%High 25% 25% 32% 19% 2006 FBMA Avg. 80 Farms Low 25%High 25% 25% 24% 23% 2007 FBMA Avg. 122 Farms Low 25%High 25% 23% 39% 17% 2007 FINBIN Avg. 2,591 Farms Low 20%High 20% 47% 54% 43%

20. Farm Equity to Asset Ratio (MKT) 2005 FBMA Avg. 97 Farms Low 25%High 25% 75% 68% 81% 2006 FBMA Avg. 80 Farms Low 25%High 25% 75% 76% 77% 2007 FBMA Avg. 122 Farms Low 25%High 25% 77% 61% 83% 2007 FINBIN Avg. 2,591 Farms Low 20%High 20% 53% 46% 57%

21. Farm Debt to Equity Ratio (MKT) 2005 FBMA Avg. 97 Farms Low 25%High 25% 34% 47% 23% 2006 FBMA Avg. 80 Farms Low 25%High 25% 33% 31% 30% 2007 FBMA Avg. 122 Farms Low 25%High 25% 30% 64% 20% 2007 FINBIN Avg. 2,591 Farms Low 20%High 20% 88% 120% 76%

22. Rate of Return on Farm Assets (COST) 2005 FBMA Avg. 97 Farms Low 25%High 25% 6.4% -2.7% 10.9% 2006 FBMA Avg. 80 Farms Low 25%High 25% 7.6% -1.2% 11.3% 2007 FBMA Avg. 122 Farms Low 25%High 25% 11.3% -4.5% 17.6% 2007 FINBIN Avg. 2,591 Farms Low 20%High 20% 14% -1.1% 19.3%

23. Rate of Return on Farm Equity (COST) 2005 FBMA Avg. 97 Farms Low 25%High 25% 7.0% -9.3% 13.0% 2006 FBMA Avg. 80 Farms Low 25%High 25% 8.4% -5.6% 13.6% 2007 FBMA Avg. 122 Farms Low 25%High 25% 13.5% -14.5% 21.6% 2007 FINBIN Avg. 2,591 Farms Low 20%High 20% 20.9% -14.7% 28.5%

24. Operating Profit Margin (COST) 2005 FBMA Avg. 97 Farms Low 25%High 25% 18.7% -13.3% 28% 2006 FBMA Avg. 80 Farms Low 25%High 25% 20.9% -6.2% 29.5% 2007 FBMA Avg. 122 Farms Low 25%High 25% 29.3% -18.5% 40% 2007 FINBIN Avg. 2,591 Farms Low 20%High 20% 27.2% -3.2% 33.4%

25. Net Farm Income (COST) 2005 FBMA Avg. 97 Farms Low 25%High 25% $62,480 -$3,982$192,570 2006 FBMA Avg. 80 Farms Low 25%High 25% $86,662 -$297$199,396 2007 FBMA Avg. 122 Farms Low 25%High 25% $122,695 -$25,435$349,811 2007 FINBIN Avg. 2,591 Farms Low 20%High 20% $156,142 -$14,787 $343,869

26. Term Debt Coverage Ratio 2005 FBMA Avg. 97 Farms Low 25%High 25% 217% 198% 296% 2006 FBMA Avg. 80 Farms Low 25%High 25% 236% 113% 283% 2007 FBMA Avg. 122 Farms Low 25%High 25% 318% -50% 494% 2007 FINBIN Avg. 2,591 Farms Low 20%High 20% 269% 65% 397%

27. Capital Replacement Margin 2005 FBMA Avg. 97 Farms Low 25%High 25% $24,451 $5,605 $90,451 2006 FBMA Avg. 80 Farms Low 25%High 25% $41,257 $2,067 $101,574 2007 FBMA Avg. 122 Farms Low 25%High 25% $66,259 -$30,705 $228,509 2007 FINBIN Avg. 2,591 Farms Low 20%High 20% $109,053 -$14,787 $343,869

28. Asset Turnover Rate (Cost) 2005 FBMA Avg. 97 Farms Low 25%High 25% 34.2% 20.2% 39.0% 2006 FBMA Avg. 80 Farms Low 25%High 25% 36.4% 19.3% 38.2% 2007 FBMA Avg. 122 Farms Low 25%High 25% 38.7% 24.6% 44.0% 2007 FINBIN Avg. 2,591 Farms Low 20%High 20% 51.3% 35.1% 57.9%

29. Operating Expense Ratio 2005 FBMA Avg. 97 Farms Low 25%High 25% 75.3% 87.3% 72.0% 2006 FBMA Avg. 80 Farms Low 25%High 25% 72.6% 83.7% 61.6% 2007 FBMA Avg. 122 Farms Low 25%High 25% 65.2% 100.2% 51.7% 2007 FINBIN Avg. 2,591 Farms Low 20%High 20% 67.3% 88.4% 62.8%

30. Depreciation Expense Ratio 2005 FBMA Avg. 97 Farms Low 25%High 25% 1.9% 7.1%.4% 2006 FBMA Avg. 80 Farms Low 25%High 25% 2.8% 7.9% 1.7% 2007 FBMA Avg. 122 Farms Low 25%High 25% 2.7% 1.9% 2.2% 2007 FINBIN Avg. 2,591 Farms Low 20%High 20% 4.3% 6.7% 3.7%

31. Interest Expense Ratio 2005 FBMA Avg. 97 Farms Low 25%High 25% 4.1% 10.8% 2.3% 2006 FBMA Avg. 80 Farms Low 25%High 25% 4.3% 8.7% 4.8% 2007 FBMA Avg. 122 Farms Low 25%High 25% 4.6% 6.1% 3.4% 2007 FINBIN Avg. 2,591 Farms Low 20%High 20% 5.2% 7.5% 3.9%

32. Net Farm Income Ratio 2005 FBMA Avg. 97 Farms Low 25%High 25% 18.6% -5.2% 25.4% 2006 FBMA Avg. 80 Farms Low 25%High 25% 20.2% -0.3% 31.9% 2007 FBMA Avg. 122 Farms Low 25%High 25% 27.5% -8.1% 42.7% 2007 FINBIN Avg. 2,591 Farms Low 20%High 20% 23.2% -2.6% 29.6%

33. What is the Economic Impact of an Average Farm in a Local Community?

34. Money Spent by the Average 2007 Missouri FBMA Farm in the Local Community & Service Area With Other Farmers$24,228 –(Brd/Non-Brd.-Livestock & Custom Work) With Other Landowners$29,485 –(Cash Land Rent/Leases) For Labor$16,404 For Farm Utilities $5,875

35. Money Spent (continued) With Agribusiness Community$224,418 –Crop Production Expenses $89,912 –Livestock Production Expenses $80,961 –Fuel & Repair Expenses $37,287 –Other/Misc. Expenses $11,138 –Farm Insurance $5,120

36. Money Spent (continued) With Lenders (Interest/Leases)$19,610 For Farm Equipment/Vehicles$40,154 For Farm Assets$52,617 –(Bldgs./Land/Impr. - Other Farm Assets) For Local Government $3,415 –(Real Estate/Personal Prop Taxes) Family Living Expenses*$58,449 –(Inc. Taxes & Purch. Of Non-Farm Assets) *Partially reported

37. Total Annual Spending Within the Community or Service Area by the Average Missouri FBMA Farm…........................ $474,655

38. FBMA & FINBIN Comparisons 2005-2007