[Economic Indicators January, 2003]
[Page Number 7]
[From the U.S. Government Publishing Office, www.gpo.gov]



 
FARM INCOME

In the third quarter of 2002, according to preliminary estimates, gross 
farm income fell $1.7 billion (annual rate) and net farm income rose 
$5.6 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      Direct     Production    Net farm
                                                   Total \1\                 Livestock                 inventory    Government    expenses      income
                                                                  Total         and         Crops     changes \2\    payments
                                                                              products
--------------------------------------------------------------------------------------------------------------------------------------------------------
1992 ...........................................        200.6        171.4         85.8         85.7          4.2          9.2        152.8         47.8
1993 ...........................................        205.0        178.2         90.5         87.7         -4.2         13.4        160.4         44.7
1994 ...........................................        216.0        181.3         88.3         93.0          8.3          7.9        167.2         48.9
1995 ...........................................        210.8        188.0         87.2        100.8         -5.0          7.3        173.8         36.9
1996 ...........................................        235.8        199.3         92.9        106.3          7.9          7.3        181.0         54.8
1997 ...........................................        238.1        207.7         96.5        111.2           .6          7.5        187.6         50.5
1998 ...........................................        232.1        196.0         94.1        101.9          -.6         12.4        186.5         45.6
1999 ...........................................        234.5        187.5         95.6         91.9          -.3         21.5        188.3         46.2
2000 ...........................................        241.7        193.7         99.6         94.1           .1         22.9        193.7         48.0
2001 ...........................................        246.5        202.8        106.4         96.4         -3.2         20.7        200.8         45.7
 
2000:I .........................................        233.3        191.5         99.2         92.3           .2         16.6        199.0         34.3
      II .......................................        239.6        200.9        100.1        100.8           .1         13.5        205.3         34.3
      III ......................................        235.4        200.7        100.3        100.4           .1          9.7        191.6         43.9
      IV .......................................        258.5        181.6         98.5         83.1           .1         51.7        178.8         79.8
 
2001: I ........................................        234.1        196.8        104.9         91.9         -3.9         15.1        201.5         32.5
      II .......................................        243.6        209.1        105.9        103.2         -3.9         12.3        211.1         32.5
      III ......................................        240.3        208.3        106.2        102.2         -2.8          8.8        202.1         38.2
      IV .......................................        268.1        197.1        108.7         88.4         -2.1         46.8        188.4         79.7
 
2002: I ........................................        232.8        197.9        103.6         94.3         -4.5         12.3        201.1         31.6
      II .......................................        226.9        194.2         92.1        102.1         -4.3         10.0        207.7         19.2
      III p.....................................        225.2        194.3         89.8        104.5         -3.2          7.2        200.4         24.8
--------------------------------------------------------------------------------------------------------------------------------------------------------

    \1\ Cash marketing receipts, 
inventory changes and direct 
Government payments, plus other farm 
cash income and nonmoney income 
produced by farms.
    \2\ Physical changes in end-of-
year inventory of crop and livestock 
commodities valued at weighted 
average market prices during the 
period.
    Note.--Data include Commodity 
Credit Corporation loan transactions 
and imputed rent of operator 
residences.
    Quarterly data plotted for 1992 
and 1993 in chart do not reflect 
revisions to annual data in table.

    Data for 2002 are forecasts.

    Source: Department of 
Agriculture.