Economic Indicators of the Farm Sector, National Financial Summary, 1989

Agriculture and Rural Economy Division, Economic Research Service

No 349304, Miscellaneous Publications from United States Department of Agriculture, Economic Research Service

Abstract: Net farm income rose 11.7 percent in 1989 to $46.7 billion, while net cash income fell 6.0 percent to $54.6 billion. Both income concepts reflect cash income minus expenses. But, unlike net cash income, net farm income takes into account noncash items, such as the value of change in inventories. Farmers rebuilt inventories by $4.4 billion after drawing down inventories by a comparable amount in 1988, when they sold crop inventories at high market prices (triggered by severe drought in some States) in order to raise net cash income. Production expenses rose in nearly every category as farmers increased planted acres. The equity in farm assets rose in 1989 as the value of farm assets increased and debt fell.

Keywords: Agricultural and Food Policy; Agricultural Finance; Crop Production/Industries; Farm Management; Financial Economics; Labor and Human Capital; Land Economics/Use; Livestock Production/Industries; Production Economics (search for similar items in EconPapers)
Pages: 102
Date: 1991-01
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersmp:349304

DOI: 10.22004/ag.econ.349304

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