[Economic Indicators May, 1998]
[Page Number 7]
[From the U.S. Government Publishing Office, www.gpo.gov]



 
FARM INCOME

In the fourth quarter of 1997, according to preliminary estimates, gross 
farm income fell $3.4 billion (annual rate) and net farm income fell 
$4.0 billion.
  ______________________________________________________________________


  ______________________________________________________________________

                                        [Billions of dollars; quarterly data at seasonally adjusted annual rates]                                       
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                         Income of farm operators from farming                          
                                                              ------------------------------------------------------------------------------------------
                                                                                      Gross farm income                                                 
                                                              -----------------------------------------------------------------                         
                            Period                                                 Cash marketing receipts                                              
                                                                           ---------------------------------------   Value of    Production    Net farm 
                                                                Total \1\                 Livestock                 inventory     expenses      income  
                                                                               Total         and         Crops     changes \2\                          
                                                                                           products                                                     
--------------------------------------------------------------------------------------------------------------------------------------------------------
1989 ........................................................        191.9        160.8         83.9         76.9          3.8        146.7         45.3
1990 ........................................................        198.1        169.5         89.2         80.3          3.3        153.3         44.8
1991 ........................................................        191.9        167.9         85.8         82.1          -.2        153.3         38.6
1992 ........................................................        200.5        171.4         85.6         85.7          4.2        152.9         47.5
1993 ........................................................        203.6        177.7         90.2         87.5         -4.5        160.5         43.1
1994 ........................................................        215.7        181.2         88.2         93.1          8.2        167.5         48.3
1995  .......................................................        210.9        187.7         87.0        100.7         -3.9        174.2         36.7
1996  .......................................................        233.5        202.3         92.9        109.4          2.7        181.3         52.2
1997 p.......................................................        233.4        201.8         93.4        108.4          1.3        186.4         46.9
                                                                                                                                                        
1995:I ......................................................        208.7        182.5         83.4         99.2         -4.8        171.0         37.7
      II ....................................................        206.8        183.0         81.8        101.2         -4.5        174.0         32.8
      III ...................................................        219.2        201.9         96.3        105.6         -3.5        176.1         43.1
      IV  ...................................................        209.0        183.4         86.6         96.8         -2.8        175.6         33.4
                                                                                                                                                        
1996:I ......................................................        239.4        203.7         90.1        113.6          3.3        177.6         61.9
      II ....................................................        238.8        206.0         90.6        115.4          3.1        182.1         56.6
      III ...................................................        230.8        206.3         96.7        109.6          2.5        182.4         48.4
      IV  ...................................................        225.0        193.3         94.2         99.1          2.0        183.1         41.9
                                                                                                                                                        
1997:I.......................................................        243.9        207.7         93.3        114.4          1.6        183.0         60.9
      II.....................................................        240.7        207.6         94.2        113.3          1.6        185.9         54.8
      III p..................................................        226.2        201.7         95.2        106.5          1.2        188.1         38.1
      IV p...................................................        222.8        190.3         91.0         99.3          1.0        188.8         34.1
--------------------------------------------------------------------------------------------------------------------------------------------------------

    \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.
    Note.--Data include net 
Commodity Credit Corporation loans 
and operator households.
    Quarterly data plotted for 1989 
through 1993 in chart do not reflect 
previous revisions to annual data in 
table.

    Source: Department of 
           Agriculture.