Comparison of the Financial Results of Record‐Keeping and Average Farms in North Dakota

Gustafson, Cole R.; Nielsen, Elizabeth G.; Morehart, Mitchell J.

doi:10.1093/aepp/12.2.165

Cited by 6 publications

(12 citation statements)

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“…Following the prior work of Mueller (1954), Olson and Tvedt (1987), Gustafson et al (1990), and Andersson and Olson (1996), we compare the characteristics of farms who belong to a farm management association to the general population of farms in a state. We examine data from three farm management associations: the Illinois FBFM Association , the Kansas Farm Management Association (KFMA), and the Kentucky Farm Business Management (KFBM) Program.…”

Section: Sources Of Farm Financial Informationmentioning

confidence: 99%

“…The National Association of Farm Business Analysis Specialists (NAFBAS), for example, has members in Alabama, Illinois, Iowa, Kansas, Kentucky, Minnesota, Nebraska, Michigan, and Wisconsin. Gustafson et al (1990) outline three important benefits of participating in farm management associations. First, members receive comprehensive reports from their farm management associations that yield more information than they would likely collect on an individual basis.…”

Section: Introductionmentioning

confidence: 99%

“…The primary limitation of farm management association data, from applied research perspective, is that the data are not obtained through a random sample (Gustafson et al, 1990). The data are collected through a voluntary agreement between farm operators and the association, and farmers pay a fee to offset the cost of producing reports and collecting information.…”

Section: Introductionmentioning

confidence: 99%

“…Gustafson et al (1990) compare association members in North Dakota to farm-level observations collected by the 1986 USDA's Farm Costs and Returns Survey (FCRS). The authors found statistically significant differences between the two groups.…”

mentioning

confidence: 99%

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A comparison of data collected through farm management associations and the Agricultural Resource Management Survey

Kuethe

Briggeman

Paulson

et al. 2014

Agricultural Finance Review

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Purpose -The purpose of this paper is to compare the characteristics of farms who participate in farm management associations to the wider population of farms at the state level. Design/methodology/approach -Farm-level records obtained from the USDA's Agricultural Resource Management Survey (ARMS) are compared to similar data obtained from farm management associations in three states: Illinois, Kansas, and Kentucky. Findings -Data collected through farm management associations tend to represent larger farms and a greater share of crop producers as compared to livestock producers. Association data, however, capture a greater share of younger farm operators. Originality/value -This is the first study to compare farm statistics from several farm management associations to ARMS, and the study confirms the findings of existing studies of prior USDA surveys.

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Section: Sources Of Farm Financial Informationmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

mentioning

confidence: 99%

See 2 more Smart Citations

A comparison of data collected through farm management associations and the Agricultural Resource Management Survey

Kuethe

Briggeman

Paulson

et al. 2014

Agricultural Finance Review

View full text Add to dashboard Cite

show abstract

“…In order to correct for possible Saskatchewan sampling biases, the U.S. northern plains data set is screened to a common profile of general cropping patterns, size and farm type This method has been used in several other studies with similar data comparability limitations (Gustafson, Nielsen and Morehart 1989;Koenigstein and Lins 1989;Mueller 1954). However, care must be taken not to overly reduce the data, in effect homogenizing both groups, and losing data uniqueness.…”

Section: Data Problemsmentioning

confidence: 99%

Comparison of Costs of Wheat Production in Saskatchewan and the U.S. Northern Plains

Glaze

Schoney

1995

Canadian J Agri Economics

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llis paper compares I989 average variable costs for U.S. northern plains and Saskatchewan spring wheat producers. Producers are divided into three cost groups. There are more statistically significant diferences between cost groups within a country than between the two countries. Relative to other producers within the same country, low-cost producers in both countries had higher yields per bushel, most bud lower variable inputs both per acre and per bushel, and most had lower debt loads. In terms of intercountry comparisons, low-cost producers in Saskatchewan and the U.S. northern plains had nearly identical average variable cash costs. While mid-and high-cost Saskatchewan producers had signijcantly lower average variable cash costs, they were almost entirely ofset by higher_tired costs. Nous comparons les cot& de production variables moyens de 1989 entre les producteurs de bit! de printemps des Plaines du nord des I&s-Unis (PN) et ceux de la Saskatchewan. Les producteurs etaient rtcpartis en trois groupes selon les co&s de production. Les diflerences significatives au plan statistique entre les &ux groupes etaient plus nombreuses c3 1 'interieur d'un m&me pays que d kn pays ct 1 'autre. Compares h leurs concitoyens, les producteurs h faible cot2 par boisseau a2.zn.s les dew: pays afichaient des rendements plus t!levt!s et, &s co&s d 'intrants variables generalement plus bas par acre et par boisseau et un fardeau d'endettement plus leger. Cornpart% par pays, les producteurs cf faible cot& de la province & Saskatchewan et dans les Plaines du nord (U. S.) afichaient des moyennes quasi identiques pour les co&s en espbces variables. iU&ne si les producteurs b cot&s de production &eves et interrnediaires de la Saskatchewan avaient des cot&s en esptces variables significativement plus has, cet avantage etait presque entritrement eflace par le niveau plus &eve des co&s &es.

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Beginning farmer status and financial performance differentials

Weir,

Hadrich,

Bonanno

et al. 2023

AFR

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PurposeBeginning Farmer and Rancher programs are available for operators with ten years of experience or less on any farm. These programs support farmers who are starting operations, often without an initial asset allocation. However, some beginning farmers acquire operations that are already established, with substantial assets in place. The authors investigate whether a profitability gap exists between beginning farmers entering the industry ex novo and those operating a preexisting operation and if so, what factors contribute to the gap.Design/methodology/approachThe authors utilize the Blinder-Oaxaca decomposition to determine what drives financial differences between first-generation beginning farmers, second-generation beginning farmers and established farmers using a unique farm-level panel dataset from 1997 to 2021.FindingsResults indicate that first- and second-generation beginning farmers have similar operating profit margins, but first-generation beginning farmers have a statistically higher rate of return on assets than second-generation beginning farmers. Established farmers outperform second-generation beginning farmers on both the operating profit margin and rate of return on assets. These results suggest that economic viability for beginning farmers differs depending upon the initial status of their operation, suggesting that heterogenous policies may be more impactful in supporting various pathways to enter agriculture.Originality/valueThis analysis is the first to identify beginning farmers that enter the industry without an asset base and those that take over a principal operator role on an established farm through an assumed farm transition. The authors quantify differences in financial performance using detailed accrual-based financial data that tracks farms over time in one dataset.

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Comparison of the Financial Results of Record‐Keeping and Average Farms in North Dakota

Cited by 6 publications

References 1 publication

A comparison of data collected through farm management associations and the Agricultural Resource Management Survey

A comparison of data collected through farm management associations and the Agricultural Resource Management Survey

Comparison of Costs of Wheat Production in Saskatchewan and the U.S. Northern Plains

Beginning farmer status and financial performance differentials

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