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Economic Indicators of the Farm Sector, National Financial Summary, 1989

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  • Agriculture and Rural Economy Division, Economic Research Service

Abstract

Net farm income rose 11.7 percent in 1989 to $46.7 billion, while net cash income fell 6.0 percent to $54.6 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 rebuilt inventories by $4.4 billion after drawing down inventories by a comparable amount in 1988, when they sold crop inventories at high market prices (triggered by severe drought in some States) in order to raise net cash income. Production expenses rose in nearly every category as farmers increased planted acres. The equity in farm assets rose in 1989 as the value of farm assets increased and debt fell.

Suggested Citation

  • Agriculture and Rural Economy Division, Economic Research Service, 1991. "Economic Indicators of the Farm Sector, National Financial Summary, 1989," Miscellaneous Publications 349304, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersmp:349304
    DOI: 10.22004/ag.econ.349304
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