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Economic Indicators of the Farm Sector, National Financial Summary, 1990

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  • Agriculture and Rural Economy Division, Economic Research Service

Abstract

Net farm income rose 1.5 percent in 1990 to $50.8 billion, while net cash income increased 4.0 percent to $61.8 billion. Both income concepts reflect cash income minus expenses. But, unlike net cash income, net farm income takes into account noncash items, such as the value of change in inventories. Farmers expanded inventories by more than $3 billion for the second consecutive year after drawing down inventories for 3 consecutive years when they sold crop inventories at high market prices to raise net cash income. Direct Government payments fell 14.6 percent to continue a downward trend since the 1987 peak of $16.7 billion, when it was 80 percent above the 1990 level. Production expenses rose 2.9 percent. Equity in farm assets rose again in 1990, as farm debt declined for the sixth consecutive year and the value of farm assets rose for the fourth consecutive year.

Suggested Citation

  • Agriculture and Rural Economy Division, Economic Research Service, 1991. "Economic Indicators of the Farm Sector, National Financial Summary, 1990," Miscellaneous Publications 349231, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersmp:349231
    DOI: 10.22004/ag.econ.349231
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