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



 
FARM INCOME

In the first quarter of 1998, according to preliminary estimates, gross 
farm income rose $8.0 billion (annual rate) and net farm income fell 
$9.0 billion.
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                                        [Billions of dollars; quarterly data at seasonally adjusted annual rates]                                       
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                                                                                         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                                                     
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1989 ........................................................        191.9        160.8         83.9         76.9          3.8        146.7         45.3
1990 ........................................................      r 198.0        169.5         89.2         80.3          3.3        153.3         44.8
1991 ........................................................        191.9        167.9         85.8         82.1          -.2        153.3       r 38.7
1992 ........................................................        200.5        171.4         85.6         85.7          4.2        152.9         47.5
1993 ........................................................      r 204.0        177.7         90.2         87.5        r-4.2        160.5       r 43.5
1994 ........................................................      r 215.8        181.2         88.2         93.1        r 8.3      r 167.4         48.3
1995 r ......................................................        210.1        188.1         87.0        101.0         -5.1        174.0         36.1
1996 r ......................................................        235.8        199.6         93.0        106.6          7.8        182.3         53.5
1997 r ......................................................        237.9        208.3         96.6        111.7          -.4        188.0         49.9
                                                                                                                                                        
1995:I r.....................................................        208.3        185.1         87.0         98.2         -6.2        174.3         34.0
      II r ..................................................        208.4        187.7         85.3        102.4         -5.8        173.5         34.9
      III r .................................................        212.6        194.0         86.2        107.8         -4.8        177.9         34.7
      IV r ..................................................        210.9        185.4         89.6         95.9         -3.7        170.3         40.7
                                                                                                                                                        
1996:I r.....................................................        232.5        200.8         90.2        110.7          9.5        183.9         48.5
      II ....................................................        236.9        203.1         90.7        112.4          8.9        182.8         54.2
      III ...................................................        247.7        203.5         96.8        106.7          7.2        184.0         63.6
      IV ....................................................        226.1        190.8         94.3         96.5          5.6        178.4         47.7
                                                                                                                                                        
1997:I r.....................................................        249.9        219.7         95.6        124.2          -.5        193.5         56.4
      II r...................................................        230.6        208.2         95.1        113.1          -.5        192.0         38.6
      III r..................................................        240.2        205.9         99.8        106.1          -.4        187.0         53.2
      IV r...................................................        231.3        199.3         95.8        103.5          -.3        179.7         51.6
                                                                                                                                                        
1998:I p.....................................................        239.3        209.6         91.4        118.2         -1.3        196.7         42.6
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    \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.