Extension Special Series No. 19b
Nearly $20 million in additional net income has been earned by South Dakota farmers and ranchers enrolled in the Cooperative Extension Service farm management program entitled "Ten Steps in Planning Your Farm or Ranch Business." By capitalizing on present knowledge and technology in farm planning, annual South Dakota net farm income could be increased an additional $33 million by 1980. In 1971 alone, net income increased nearly $2 million for participants in the program. One farmer made over $31,000 in additional income over direct costs. The average increase for 259 farms was $6,940. The farm management program also has a spinoff effect on other businesses. Each million dollar increase in net income probably stimulates an additional increase in sales of production inputs and wages of $2.5 million. Another spinoff benefit involves alert farmers who see their Ten-Step neighbors adjusting their farm operations for greater profits and who consequently make adjustments in their own farm plans. The total cumulative effect of the program can not really be known. More than 6,500 farmers have enrolled since the program went to the counties in 1965. There are, however, an additional 19,000 farm operators out of about 43,500 operating farm units in the state that could profit significantly from the farm management training that the Cooperative Extension Service offers.
South Dakota State University
Jorgenson, Lee and Service, Cooperative Exte, "10 Steps to Better Farm Management" (1974). SDSU Extension Special Series. 80.