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Midwest Region -- IA

AVE

HP

LP

USA Organ

GM

90 119 61 80 Average Productive Acres………………. 328 462 193 245 Pounds of Milk Sold per Cow.........……………………………………………………………….. 12,879 15,751 10,007 8,173 Pounds of Milk Sold per Acre…… 4,301 4,328 4,274 2,958 Productive Acres per Cow.........…………………………………………………………… 3.40 3.86 2.95 2.88 Fertilizer/Seed Input per Acre $73 $61 $85 $63 Average Herd Size………………….

Average He

Average Pro

Pounds of M

Pounds of M

Productive C

Fertilizer/S

Cost of Production Analysis Gross Income/Cwt.Eq.

AVE $31.11

HP $31.28

LP $30.94

GM $38.45

Full Cost of

Gross Expense Cwt.Eq.

$27.40

$25.28

$29.51

$33.83

Gross Exp

Net Income per Cwt.Eq.

$3.72

$6.00

$1.43

$4.62

Net Incom

HP

LP

Cash Expenses per Cow Veterinary, Medicine

AVE

Gross Inco

Cash Expe

GM

$38

$53

$10

$13

Veterinary

Dairy Supplies

$143

$140

$149

$146

Dairy Supp

Breeding Fees

$28

$39

$8

$14

Breeding F

Feed Purchased

$495

$520

$448

$174

Feed Purch

Repairs

$244

$253

$225

$133

Repairs

Seed, Chem, Fert

$256

$282

$205

$190

Seed, Che

Fuel, Gas, and Oil

$152

$149

$158

$111

Fuel, Gas,

$76

$106

$18

$73

Utilities

Utilities

Interest Paid -- not included due to 4% equity charge on owned assets

Interest P

Labor Hired

$113

$170

$2

$113

Labor Hire

Rent, Lease and Hire

$351

$404

$247

$53

Rent, Leas

Property Taxes

$115

$127

$90

$77

Property T

Farm Insurance

$88

$114

$38

$66

Farm Insur

Other Cash Expense

$236

$251

$207

$145

Other Cas

Total Cash Expense

$2,335

$2,609

$1,805

$1,308

Total Cash

Net Returns per Cow

AVE

GM

Net Return

Net Cash Income

$2,790

$3,288

$1,825

$2,013

Net Cash

Inventory Change

-$132

-$269

$134

-$181

Inventory

Net Farm Income

$2,658

$3,019

$1,959

$1,832

Net Farm

Equity @ 4% of Assets

$1,022

$1,098

$876

$687

Equity @ 4

Return to Unpaid Labor

$1,636

$1,921

$1,083

$1,145

Return to

Labor Profit Analysis

AVE

Labor Earnings Per Hour $26.36

HP

LP

HP

LP

GM

Labor Profit

$38.10

$14.62

$27.87

Labor Ear

Adj. Gross Return/FTE Labor..…………………………………………………… $212,794 ####### $167,863

$168,191 Return to All Labor/FTE Labor.....……………………………………………………….. $66,788 $89,622 $43,953 $64,134

Adj. Gross Re

Number of Cows per FTE Labor..........……………………………………………………….. 44 45 43

Number of Co

52

Lbs. of Milk Sold per FTE Labor......………………………………………………………… 556,900 711,100 402,600

420,500 All Labor Costs per Cow..................…………………………………………………………………….. $884 $854 $914 $788 $7.01

$8.26

All Labor as % of Total Costs…………………………………………………………… 21.09% 19.05% 23.13%

27.38%

All Labor Costs per Cwt. Eq…………..

Capital Efficiency and Profit

$5.10 AVE

Capital Cost per Cow (Dep+Int)………………… $1,227

$4.44 HP

LP

GM

$1,343 $1,111 $779 Fixed Cost per Cow (DIRTI) $1,627 $1,790 $1,465 $1,069 Capital Invested per Cow………………… $23,346 $24,653 $22,039 $15,964 Machinery Investment/Crop Acre $988 $817 $1,160 $863 Livestock over All Investment % 11.21% 11.07% 11.35% 14.82% Fixed Cost as % of Total Cost………………………………………………………. 38.22% 39.30% 37.15% 38.27% **Rate of Return on Assets………………………………………. 6.41% 8.03% 4.79% 6.23%

Return to All Lbs. of Milk

All Labor Cos

All Labor Cos All Labor as

Capital Effic

Capital Cost p

Fixed Cost pe

Capital Inves

Machinery In

Livestock ove

Fixed Cost as

**Rate of R


Monday, March 11 8:00 a.m. Board of Directors Meeting: First Session 8:00 a.m.– 12:00 p.m. Registration for All Committees 10:00 a.m. Member Registration Noon Committee Meetings Resolutions, Election & Tally, Arrangements/Hospitality 3:00 p.m. General Session 3:35 p.m. Gilbert Kleaving, National Board Member 3:50 p.m. Mike Naig, Iowa Ag Secretary 4:10 p.m. Senator Amy Klobuchar, D-Minn. 4:30 p.m. Paul Riniker, National Farmers Vice President 5:00 p.m. Member Social

Tuesday, March 12 9:15 a.m. Financial Report – Closed Session 10:45 a.m. Richard Ellinghuysen, Vice President PLMA 11:30 a.m. Lunch on your own 1:00 p.m. Dr. Temple Grandin, Colorado State University J.T. Lowe, JBS 2:45 p.m. Gene Paul, Legislative Coordinator Resolutions and Bylaws Approval Old and New Business 4:00 p.m. Farm Bill Highlights 7:00 p.m. President’s Dessert Reception Young Producer Awards President’s Address – Paul Olson

Wednesday, March 13 9:00 a.m. Dairy Division Presentation 10:45 a.m. Grain Divison Presentation 12:00 p.m. Lunch on your own 1:30 p.m. Livestock Division Presentation 3:00 p.m. Seating of Directors Institute for Rural America Auction Closing Comments, Paul Olson 8:00 p.m. Member Dance featuring Passion

Thursday, March 14 8:00 a.m. Board of Directors Meeting


nic Dairies

-- AVE CA, WA, OR, HPIA, WI, VA, MP WV, TN, LP OH, NY, PA 153 133 197 127 roductive Acres………………. 443 482 469 372 Milk Sold per Cow.........……………………………………………………………….. 14,648 15,919 13,930 14,056 Milk Sold per Acre 6,329 7,019 6,263 5,662 Crop Acres per Cow.........…………………………………………………………… 2.98 2.96 2.83 3.16 /Seed Input per Acre $104 $127 $94 $90

erd Size………………….

f Production Analysis AVE

HP

MP

LP

come per Cwt. Eq.

$32.71

$32.93

$33.24

$31.91

pense per Cwt. Eq.

$31.10

$27.51

$31.36

$34.64

$1.62

$5.42

$1.88

-$2.73

me per Cwt.Eq.

enses per Cow

AVE

y, Medicine

$52 $207 $40 $1,409 $287 $261 $130 $107

pplies

Fees

chased

em, Fert and Oil

HP

$71 $168 $49 $1,323 $331 $412 $154 $105

MP

LP

$50 $205 $40 $1,635 $281 $216 $115 $117

$33 $252 $31 $1,133 $248 $166 $130 $93

Paid -- not included due to 4% equity charge on owned assets

red

se and Hire

Taxes

urance

sh Expense

sh Expense

ns per Cow

Income

y Change

$597 $530 $65 $90 $240 $4,015 AVE $1,423

$505 $756 $68 $102 $333 $4,376 HP $2,147

$703 $433 $64 $102 $198 $4,160 MP

$524 $436 $63 $57 $206 $3,373 LP

$1,160

$1,049

-$41

$208

$0

-$386

$1,383

$2,355

$1,160

$663

4% of Assets

$676

$822

$593

$650

o Unpaid Labor

$707

$1,533

$567

m Income

fit Analysis

rnings Per Hour

$13

AVE

HP

MP

LP

$21.54

$39.15

$21.18

$3.13

Return/FTE Labor..…………………………………………………… $216,853 $249,736 $218,252

$180,285 ll Labor/FTE Labor.....……………………………………………………….. $55,569 $82,144 $54,663 $28,188

Cows per FTE Labor..........……………………………………………………….. 40 42 41

38

Sold per FTE Labor......………………………………………………………… 578,624 646,295 563,438

522,638 osts per Cow..................…………………………………………………………………….. $1,090 $1,049 $1,074 $1,151 $6.13

$7.61

s % of Total Costs…………………………………………………………… 21.44% 20.63% 21.79%

21.93%

osts per Cwt. Eq…………..

fficiency and Profit

$5.85 AVE

$4.54 HP

MP

LP

$920 $897 $1,024 per Cow (DIRTI) $1,364 $1,294 $1,343 $1,463 ested per Cow………………… $17,443 $16,939 $16,208 $19,298 Investment/Crop Acre $928 $940 $899 $946 er All Investment % 18.27% 19.71% 18.39% 16.61% as % of Total Cost………………………………………………………. 26.98% 26.01% 27.04% 27.96% Return on Assets………………………………………. 6.23% 10.86% 5.77% 1.76% per Cow (Dep+Int)………………… $945


Convene’ March 11-13

West Des Moines, Iowa

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