2002 MICHIGAN FEEDER STEER BUSINESS ANALYSIS SUMMARY

This report summarizes the financial and production records of 10 Michigan feeder steer farms. To be included, the farms must have produced at least 50 percent of gross cash farm income from feeder steer sales. The records came from Michigan State University's TelFarm/MicroTel project, the Farm Credit Service system, or by AgriSolutions in Michigan. The values were pooled into averages for reporting purposes. Farm records were included if a farm financial summary was completed on 2002 data including beginning and ending balance sheets, plus income and expenses. The data were checked to verify that cash discrepancy was less than 10% of gross cash inflow and that debt discrepancy was less than $1,000. While considerable variation in the data exists, average values are reported in the summary tables below