|
| Farm
income indicators, 2006 - 2008F |
United States
Component accounts 1/ |
2006 |
2007P |
2008F |
Change
from
2007 to
2008 |
1998-
2007
(10-year)
average |
Deviation
of 2008
from
10-year
average |
02/12/08 |
$
billion |
| Gross farm income
|
291.5 |
345.7 |
371.5 |
25.8 |
268.9 |
103.1 |
| Gross cash income |
272.5 |
316.2 |
346.0 |
29.8 |
252.1 |
94.4 |
| Cash
receipt |
239.3 |
285.4 |
313.2 |
27.9 |
219.0 |
94.4 |
| Crops |
120.0 |
143.9 |
174.6 |
30.6 |
108.5 |
66.2 |
| Livestock
and products |
119.3 |
141.4 |
138.7 |
(2.7) |
110.5 |
28.2 |
| Government payments |
15.8 |
12.0 |
13.4 |
1.4 |
17.4 |
(3.6) |
| Farm-related
income |
17.5 |
18.8 |
19.4 |
0.6 |
15.7 |
3.6 |
| Noncash income |
20.5 |
23.8 |
24.7 |
0.9 |
15.7 |
9.0 |
| Value
of home consumption |
0.4 |
0.4 |
0.5 |
0.1 |
0.3 |
0.2 |
| Rental value of dwellings
|
20.1 |
23.4 |
24.2 |
0.8 |
15.4 |
8.8 |
| Operator
and other dwellings 1/ |
19.7 |
22.9 |
23.4 |
0.5 |
14.8 |
8.6 |
| Hired laborer dwellings
|
0.4 |
0.4 |
0.8 |
0.3 |
0.6 |
0.2 |
| Value of inventory
adjustment |
(1.6) |
5.7 |
0.8 |
(5.0) |
1.0 |
(0.3) |
| Total production expenses |
232.5 |
257.0 |
279.2 |
22.2 |
207.8 |
71.6 |
| Purchased
inputs |
148.9 |
168.4 |
185.8 |
17.3 |
131.9 |
54.1 |
| Farm origin |
59.8 |
69.5 |
76.0 |
6.5 |
53.2 |
22.9 |
| Feed
purchased |
30.5 |
38.1 |
45.0 |
6.9 |
27.8 |
17.3 |
| Livestock and poultry
purchased |
18.2 |
18.8 |
17.9 |
(0.9) |
16.2 |
1.7 |
| Seed
purchased |
11.0 |
12.6 |
13.1 |
0.5 |
9.2 |
3.9 |
| Manufactured inputs |
37.0 |
41.4 |
47.1 |
5.7 |
31.6 |
15.5 |
| Fertilizer
and lime |
13.3 |
16.0 |
19.0 |
3.0 |
11.4 |
7.6 |
| Pesticides |
8.8 |
9.1 |
10.1 |
1.0 |
8.7 |
1.4 |
| Fuel
and oil |
11.1 |
12.4 |
14.0 |
1.6 |
8.1 |
5.9 |
| Electricity |
3.7 |
3.9 |
4.1 |
0.2 |
3.4 |
0.6 |
| Other
purchased inputs |
52.1 |
57.6 |
62.7 |
5.1 |
47.1 |
15.6 |
| Repair and maintenance
|
12.4 |
13.6 |
14.8 |
1.2 |
11.4 |
3.4 |
| Other
miscellaneous |
39.7 |
44.0 |
47.9 |
3.9 |
35.6 |
12.2 |
| Interest |
14.7 |
15.8 |
15.8 |
0.1 |
13.4 |
2.4 |
| Real estate
|
8.2 |
8.9 |
9.1 |
0.2 |
7.3 |
1.8 |
| Nonreal estate |
6.5 |
6.8 |
6.7 |
(0.1) |
6.1 |
0.6 |
| Contract and hired
labor expenses |
24.4 |
26.1 |
27.3 |
1.2 |
22.3 |
5.0 |
| Net rent to nonoperator landlords
2/ |
9.3 |
10.3 |
12.0 |
1.7 |
10.4 |
1.7 |
| Capital consumption
|
26.1 |
26.9 |
28.6 |
1.7 |
22.4 |
6.3 |
| Property taxes |
9.0 |
9.5 |
9.6 |
0.1 |
7.4 |
2.2 |
| NET
FARM INCOME 3/ |
59.0 |
88.7 |
92.3 |
3.6 |
61.1 |
31.5 |
| Gross receipts of farms |
271.8 |
322.7 |
348.0 |
25.3 |
254.0 |
94.5 |
| Farm production expenses
|
222.8 |
246.9 |
267.9 |
21.0 |
200.4 |
67.7 |
| Expense not paid to stakeholders
|
178.0 |
198.6 |
216.7 |
18.2 |
157.7 |
59.1 |
| Purchased
inputs |
146.8 |
166.2 |
183.3 |
17.2 |
130.1 |
53.3 |
| Capital consumption |
20.5 |
21.2 |
21.9 |
0.7 |
18.3 |
3.6 |
| Property
taxes |
7.6 |
8.0 |
8.2 |
0.1 |
6.4 |
1.7 |
| Contract labor |
3.1 |
3.2 |
3.4 |
0.2 |
2.9 |
0.5 |
| Payments to
stakeholders |
44.8 |
48.4 |
51.2 |
2.8 |
42.7 |
8.5 |
| Interest |
14.2 |
15.2 |
15.2 |
0.0 |
12.9 |
2.3 |
| Hired
labor compensation |
21.3 |
22.9 |
23.9 |
1.1 |
19.4 |
4.5 |
| Net rent to nonoperator
landlords |
9.3 |
10.3 |
12.0 |
1.7 |
10.4 |
1.7 |
| RETURNS
TO OPERATORS 4/ |
48.9 |
75.8 |
80.1 |
4.3 |
53.6 |
26.8 |
| Gross cash income |
272.5 |
316.2 |
346.0 |
29.8 |
252.1 |
94.4 |
| Cash expenses |
204.7 |
228.6 |
249.4 |
20.8 |
184.1 |
65.5 |
| Cash expenses, excluding net
rent |
192.6 |
215.0 |
233.5 |
18.5 |
171.2 |
62.5 |
| Purchased
inputs |
146.8 |
166.2 |
183.3 |
17.2 |
130.1 |
53.3 |
| Interest |
14.2 |
15.2 |
15.2 |
0.0 |
12.9 |
2.3 |
| Cash
labor expenses |
24.0 |
25.6 |
26.8 |
1.2 |
21.7 |
5.1 |
| Property taxes |
7.6 |
8.0 |
8.2 |
0.1 |
6.4 |
1.7 |
| Net rent to nonoperator
landlords 5/ |
12.1 |
13.6 |
15.8 |
2.3 |
12.9 |
3.0 |
| NET CASH INCOME
|
67.9 |
87.6 |
96.6 |
9.0 |
68.0 |
28.9 |
| F = forecast P=Preliminary
Totals may not add due to rounding. ( ) indicates
negative number |
| 1/ Value added to gross
income by imputed value of rental services provided
by the dwellings. |
| Value added to net farm
income equals difference in net farm income and returns
to operators. 2/ Includes landlord capital consumption.
|
| 3/ Statistics in and above
the Net Farm Income line represent the farm sector,
defined as including farm operators' dwellings located
on farms. Statistics below the Net Farm Income line
represent only the farm businesses to the exclusion
of the operators' dwellings. |
| 4/ Returns-to-operators
is the operators' share of the net income generated
by the farm sector's production of commodities and
farm business activities in a calendar year. It differs
conceptually from farm sector financial indicators
by excluding the gross imputed rent of farm operators'
dwellings and the expenses associated with the operators'
dwellings. The difference between returns-to-operators
and net farm income is equivalent to the net rental
value of farm operator dwellings |
| 5/ Excludes landlord capital
consumption. |
| Note: Some of the component
accounts in this farm income table format that are
similar in name to ones in the value-added table format
have definitional differences. |
