2012 was a record year for agriculture--in yields, prices and profits.
Reporter Sarah Gustin has more on what ag experts are expecting for cash flows in the year ahead.
Steve Metzger / Farm Business Management: "What we have seen in the last year is probably the single best year that we will ever see. We have had basically record yields along with record prices. And that has given us record profits."
2 different crops contributed a lot of dollars to those high totals.
Corn and soybeans.
Steve Metzger / Farm Business Management: "For South Central North Dakota, Right now 49% of our cash income came last year came out of just corn and soybeans alone with wheat and barley amounting to only 9% between the two."
Steve Metzger compiles farm data in the Harrington area.
He says on average in that area net income totaled slightly more than 400-thousand dollars per farm.
A big total--but expenses also totaled well over a half a million dollars.
Steve Metzger / Farm Business Management: "We had a very good year, therefore we see expenses going up some cases, rents certainly jumping. Land prices jumping and we see a lot of farmers going back to more corn and soybeans again. Simply because they were the big crop for us last year."
Don Hagen gathers data in the Glen Ullin area.
Hagen says net farm income in that area rose nearly 33-thousand dollars this last year.
Don Hagen / Farm Business Management: "A lot more corn going in and this is the first year we have had enough people in the program seeded soybeans that we have soybean averages."
Hagen says 2012 was also a good year for ranchers with a net return of about 170 dollars per cow.
That's up 19 dollars from last year.
Don Hagen / Farm Business Management: "Started out with a nice spring for calving. The weather was very combating and the calf death losses were down and weaning percentages were up but the waning weights were down, that's mostly attributed to the poorer pasture growth."
Both agree, the biggest challenges farmers will face is high expenses and falling prices.
The Average Net Farm income in the Bismarck area totaled about 284-thousand dollars.