Valuing Farm Financial Information



Tables 1 and 2 provide summary statistics of selected demographic variables. The data
are broken down into our two general participant groups: the county Extension meetings and the
Top Farmer Crop Workshop (TFCW) participants. The data are broken down since the TFCW
participants are inclined to be more competitive, commercial farmers than average. Data
indicate the TFCW participants had on average 1,500 more acres in crop production and were
more likely to have achieved a higher level of education than county meeting farmers.
Additionally, the vast majority of the study’s participants were male; 100% of the TFCW
participants and 91% of the county meeting participants were male. Finally, the average ages of
the TFCW participants and county meeting participants were 45 and 50 years, respectively.

Table 1. Summary Statistics of Participant Farm Acres by Commodity

Corn

Soybeans

Wheat

Fruits/Veg.

Forage

Other

Total

County Meetings

Mean

684

533

18

0

22

1

1,257

Median

500

350

0

0

0

0

950

Minimum

0

0

0

0

0

0

0

Maximum

3,200

2,300

200

2

300

25

4,800

Stand Dev.

743

561

43

0

58

4

1,221

Number of

Participants

30

29

10

1

11

1

33

TFCW

Mean

1,381

1,082

226

2

36

27

2,754

Median

1,100

925

0

0

0

0

2,293

Minimum

0

0

0

0

0

0

80

Maximum

3,500

3,000

1,300

60

400

837

7,500

Stand Dev.

1,041

879

425

10

89

144

2,023

Number of

Participants

33

32

16

3

9

2

34

11



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