In financial terms it means a lot, according to Calvin Pietz, farm business management instructor at Mitchell Technical Institute (MTI). he average business purchases within local communities based on information proved by farmers enrolled in South Dakota's Farm/Business Management Program was $561,556, an increase of $9,126 over 2008.
Feed purchased topped the expense list in 2009 at $79,934 for the average enrolled farm. Much of this feed is produced and processed in South Dakota creating a multi-million dollar industry within the state.
Equipment repairs and purchases provide the basis for the ag equipment industry in local communities. The average farm generated $30,855 in repair bills. Gas and lubricant purchases added another $21,209 in dollars paid to local businesses.
The livestock health industry received an average of $17,414 per farm in 2009.
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