The Balance Sheet of the Farming Sector, 1971

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

No 305796, Agricultural Information Bulletins from United States Department of Agriculture, Economic Research Service

Abstract: Farm proprietors' assets totaled $318.9 billion on January 1, 1971, while farm debt outstanding totaled $61.1 billion, leaving equities of $257.8 billion. The ratio of farm debt to value of assets was 19.2 percent, up from 18.8 percent a year earlier. Advances in the values of farm real estate made up over half of 1970's $9.3 billion gain in farm asset value; higher value of machinery and motor vehicles largely accounted for remaining growth. Farm non-real estate debt grew $2.7 billion during 1970, compared with $1.1 billion for farm real estate debt. Farmers were reluctant to take long-term real estate loans at the prevailing high interest rates. Realized net farm income dropped to $15.6 billion-down 6.5 percent from 1969.

Keywords: Financial Economics; Production Economics (search for similar items in EconPapers)
Pages: 42
Date: 1971-12
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersab:305796

DOI: 10.22004/ag.econ.305796

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