The Balance Sheet of the Farming Sector, 1970

Carson D. Evans, Robert D. Reinsel, Alan G. Smith and Forest G. Warren

No 305795, Agricultural Information Bulletins from United States Department of Agriculture, Economic Research Service

Abstract: Farm assets totaled $311.4 billion on January 1, 1970, while farm debt outstanding reached $58.1 billion leaving farm proprietors' equities of $253.3 billion. The ratio of farm debt to value of assets was 18.7 percent, up 0.4 point from a year earlier. Advances in the value of farm real estate made up half of 1969's $12.3 billion gain in farm asset value. Higher values for livestock and poultry mainly accounted for the rest of asset growth. Farm non-real estate debt grew $2.2 billion during 1969 compared with $1.3 billion for farm real estate debt, the latter figure indicating farmers’ reluctance to enter long-term loan contracts at the high interest rates prevailing last year. Regionally, the Corn Belt had the highest value of farm assets but farm debt was also highest there. As a group, farmers who had gross sales of $20,000 to $39,999 during 1969 owned the largest share of farm assets and owed the largest proportion of farm debt.

Keywords: Financial Economics; Production Economics (search for similar items in EconPapers)
Pages: 43
Date: 1971-01
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersab:305795

DOI: 10.22004/ag.econ.305795

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