Financial Characteristics of U.S. Farms, January 1, 1988

Mitchell J. Morehart, James D. Johnson and David E. Banker

No 309478, Agricultural Information Bulletins from United States Department of Agriculture, Economic Research Service

Abstract: The financial condition of most farmers and ranchers continued improving in 1987. Nominal net farm income (profitability) reached a record high of $45 billion due to relatively stable farm production expenses, a 45-percent rise in Government payments to farmers and ranchers, and a modest rise in farm product sales. Real net farm income (adjusted for inflation), at $38 billion, reached the highest level since the mid-1970's and was on par with that of the 1950's and 1960's. Higher land values, representing 70 percent of farm assets, and lower debt boosted owner equity from $537 billion to $571 billion, reversing the 6-year decline and helping to improve income and cash flow.

Keywords: Agricultural Finance; Consumer/Household Economics; Financial Economics (search for similar items in EconPapers)
Pages: 178
Date: 1988-10
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersab:309478

DOI: 10.22004/ag.econ.309478

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