Economic Indicators of the Farm Sector: State Financial Summary, 1992

Agriculture and Rural Economy Division, Economic Research Service

No 361274, Miscellaneous Publications from United States Department of Agriculture, Economic Research Service

Abstract: California had the highest estimate of net farm income of any State for 1992 with $4.8 billion. Texas was second with $3.5 billion. Farm operations in four other States produced incomes in excess of $2 billion: Florida ($2.8), Nebraska ($2.7), Iowa ($2.5), and North Carolina ($2.5). Net farm income reflects the net value of all goods and services produced within the year. Cattle and calves and dairy products were the top commodities in cash receipts. Texas led cattle and calf receipts with $5.6 billion, and Wisconsin topped dairy sales with $3.1 billion. Corn and soybeans were the third- and fourth-ranked commodities in the nation, with Illinois and Iowa ranked first and second, respectively, in sales for both. Illinois’ receipts for corn and soybeans were $2.8 billion and $2 billion, respectively. Hogs were the fifth-ranked commodity, with Iowa the leading producer at $2.7 billion. California, Iowa, and Texas were the top three States, when ranked by assets, total debt, real estate debt, or nonreal estate debt. Texas ranked first in farm assets ($74.4 billion), California second ($68.1 billion), and Iowa third ($54.1 billion). California ranked first in total debt ($13.1 billion), followed by Iowa ($9.9 billion) and Texas ($9.3 billion).

Keywords: Agricultural and Food Policy; Agricultural Finance; Crop Production/Industries; Dairy Farming; Financial Economics; Labor and Human Capital; Livestock Production/Industries; Production Economics; Productivity Analysis (search for similar items in EconPapers)
Pages: 246
Date: 1994-01
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersmp:361274

DOI: 10.22004/ag.econ.361274

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