[Economic Indicators May, 1995]
[Page Number 7]
[From the U.S. Government Publishing Office, www.gpo.gov]



 
FARM INCOME

In the fourth quarter of 1994, according to preliminary estimates, gross 
farm income rose $16.8 billion (annual rate) and net farm income rose 
$17.8 billion.
  ______________________________________________________________________




  ______________________________________________________________________

                                        [Billions of dollars; quarterly data at seasonally adjusted annual rates]                                       
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                   Income of farm operators from farming                                
                                                 -------------------------------------------------------------------------------------------------------
                                                                         Gross farm income                                           Net farm income    
                                                 -----------------------------------------------------------------             -------------------------
                     Period                                           Cash marketing receipts                                                           
                                                              ---------------------------------------   Value of    Production                          
                                                   Total \1\                 Livestock                 inventory     expenses     Current        1987   
                                                                  Total         and         Crops     changes \2\                 dollars    dollars \3\
                                                                              products                                                                  
--------------------------------------------------------------------------------------------------------------------------------------------------------
1984............................................        168.0        142.8         72.9         69.9          6.0        141.9         26.1         28.7
1985............................................        161.2        144.1         69.8         74.3         -2.3        132.4         28.8         30.5
1986............................................        156.1        135.4         71.6         63.8         -2.2        125.1         31.1         32.0
1987............................................        168.5        141.8         76.0         65.9         -2.3        128.8         39.7         39.7
1988............................................        175.8        151.2         79.4         71.7         -3.4        137.8         38.0         36.6
1989 ...........................................        192.8        161.1         84.1         77.0          4.8        144.9         47.9         44.1
1990 ...........................................        198.2        170.0         89.8         80.1          3.4        151.3         46.9         41.4
1991 ...........................................        192.3        168.8         86.7         82.1          -.3        151.2         41.1         35.0
1992 ...........................................        200.2        171.2         86.4         84.9          4.3        150.1         50.1         41.4
1993 ...........................................        201.4        175.1         90.6         84.5         -3.6        158.0         43.4         35.1
1994 p..........................................        212.0        179.7         87.8         91.9          7.1        162.7         49.3         39.1
                                                                                                                                                        
                                                                                                                                                        
1993: I.........................................        203.0        172.2         84.2         88.0         -6.5        155.1         47.9         39.0
      II........................................        202.2        175.1         88.4         86.7         -5.1        157.6         44.7         36.2
      III.......................................        198.0        185.7        101.9         83.8         -6.0        159.5         38.6         31.2
      IV........................................        202.5        167.3         87.8         79.5          3.0        160.0         42.4         34.2
                                                                                                                                                        
1994: I r.......................................        215.0        177.1         92.0         85.1          8.4        160.2         54.8         43.8
      II r......................................        201.0        166.8         82.5         84.2          7.7        162.5         38.5         30.6
      III r.....................................        207.7        183.0         97.2         85.8          6.2        164.5         43.1         34.1
      IV p......................................        224.5        191.8         79.5        112.3          6.2        163.6         60.9         48.0
--------------------------------------------------------------------------------------------------------------------------------------------------------

    \1\ Cash marketing receipts and 
inventory changes plus Government 
payments, other farm cash income, 
and nonmoney income furnished by 
farms.
    \2\ Physical changes in end-of-
year inventory of crop and livestock 
commodities valued at average prices 
during the year.
    \3\ Income in current dollars 
divided by the GDP implicit price 
deflator.
    Note.--Data include net 
Commodity Credit Corporation loans 
and operator households.
    Quarterly data plotted for 1989 
through 1991 in chart do not reflect 
previous revisions to annual data in 
table.

    Sources: Department of 
Agriculture and Department of 
             Commerce.