""The leveling of family living expenditures makes sense,” says Andy Swenson, NDSU farm management specialist.
Finances
A concern with ACRE is the ""if"" questions.
The significant shift in the relationship of transfer payments to total personal income between North Dakota and the U.S. reflects changing economic circumstances.
There was a large difference in profit by farm type.
North Dakota’s trend in bankruptcy filings has closely followed the national pattern of change.
Crop prices are down from the highs of 2007 and 2008 but are still strong when viewed in a longer historical perspective.
Individual federal income tax returns with contributions as itemized deductions showed contributions averaging $4,316 per return in 2007, a 4 percent increase from $4,148 in 2006.
It is best to try to spread out income and expenses so you don’t have abnormally high or low income or expenses in any one year.
Net in-migration indicates that North Dakota brought in 25 percent more first-year students to its colleges and universities than it could have generated from North Dakota resident first-year students.
The next Annie’s Project program starts the week of Jan. 19, 2010, in 12 communities.
The majority of North Dakota children have health insurance coverage, but 8.7 percent do not.
North Dakota’s general trend of out-migration has produced long-term economic consequences.
By providing funds ranging from $6,000 per individual grant to up to $18,000 for grants awarded to groups of three or more, NCR-SARE helps facilitate essential agricultural research and development.
Since 2004, crude oil production in North Dakota has grown an average of 16.9 percent per year.
An average yield for North Dakota of more than 40 bushels per acre would result in no ACRE payment for wheat.
In most North Dakota situations, the ACRE program is a good option when its risk management aspects are weighed against its costs.
The cost of ACRE will probably be a sacrifice in direct payments of around $2 per acre in North Dakota, so producers are wondering whether this cost and the effort to enroll in ACRE are worth it.
Producers must complete the enrollment process, including all signatures of landowners, by the Aug. 14 deadline.
Debt has increased, but the solvency or financial risk of farms is better.
Average farm family living expenditures reported by the North Dakota Farm Business Management Education Program have increased from $34,889 in 1999 to $57,404 in 2008.
Net farm income averaged $180,746.
North Dakota’s housing market is showing a slowdown similar to the national market with successive declines in newly authorized homes since 2006.
Land not harvested will not be eligible for prevented planting coverage under multiperil crop insurance policies
When a producer enrolls in ACRE, there is the opportunity to receive payments on crops if certain criteria are met.
Time is of the essence in salvaging wet feed and grain.
North Dakota’s trend in bankruptcy filings has closely followed the national pattern of change.
Factors hinge, in some form, on the world economy and weather, which are not easy to predict.
NDSU has information that can help you as you clean and repair flood-damaged agricultural structures.
How much of the equipment was submerged in floodwater determines what needs to be done to get it back into operation.
Document Actions

