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Financial Characteristics of U.S. Farms, January 1, 1988

Author

Listed:
  • Morehart, Mitchell J.
  • Johnson, James D.
  • Banker, David E.

Abstract

The financial condition of most farmers and ranchers continued improving in 1987. Nominal net farm income (profitability) reached a record high of $45 billion due to relatively stable farm production expenses, a 45-percent rise in Government payments to farmers and ranchers, and a modest rise in farm product sales. Real net farm income (adjusted for inflation), at $38 billion, reached the highest level since the mid-1970's and was on par with that of the 1950's and 1960's. Higher land values, representing 70 percent of farm assets, and lower debt boosted owner equity from $537 billion to $571 billion, reversing the 6-year decline and helping to improve income and cash flow.

Suggested Citation

  • Morehart, Mitchell J. & Johnson, James D. & Banker, David E., 1988. "Financial Characteristics of U.S. Farms, January 1, 1988," Agricultural Information Bulletins 309478, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersab:309478
    DOI: 10.22004/ag.econ.309478
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    File URL: https://ageconsearch.umn.edu/record/309478/files/aib551.pdf
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    Cited by:

    1. Willimack, Diane K., 1989. "The Financial Record-Keeping Practices Of U.S. Farm Operators And Their Relationship To Selected Operator Characteristics," 1989 Annual Meeting, July 30-August 2, Baton Rouge, Louisiana 270520, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Boxley, Robert F., 1988. "Agricultural and Rural Data Paradigms," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 41(1), pages 1-6.

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