Farm Business Assets
Farm business assets are those items of value that
make up the farm firm.
What assets are included?
-
Farm real estate assets—Primarily farmland, but also other
farm real estate assets such as livestock buildings and facilities
for storing crops and machinery
-
Machinery and equipment
-
Value of crops stored
-
Livestock and poultry inventories
-
Purchased inputs on hand
-
Investments in cooperatives
-
Other financial assets such as cash and checkable deposits.
What are the primary sources of data for estimating the value
of farm business assets?
-
Real estate assets comprise about 70 percent of farm
business assets. Estimates of value per acre of land and buildings,
and of land in farms, State and U.S. (48-States) are obtained
from annual USDA-NASS survey data. State-by-state estimates
of building and dwelling ratios obtained from the Department
of Commerce, Bureau of the Census's (BOC) Agricultural Economics
Land Ownership Survey (AELOS) are then used to estimate the
value of farm real estate assets, excluding the value
of operator dwellings.
-
The values for farm machinery and equipment data are
obtained from several sources: The Agricultural Resource and
Management Survey (ARMS), and the Bureau of the Census's, and
now USDA's, Census of Agriculture.
-
The basic data for estimating the value of crops stored
are obtained from the USDA-NASS. Since many of these quantities
and values are not year-end (December, 19xx) values, the December
31, 19xx quantities and values must be imputed using additional
data.
-
The values for livestock and poultry inventories are
obtained from USDA-NASS data.
-
The data for estimating the value of purchased inputs
are obtained from the ARMS survey and from the BOC/USDA's Census
of Agriculture.
-
The values for financial assets (other financial assets
and investments in farmer cooperatives) are obtained from several
sources: the USDA, the Farm Credit Administration, the Agricultural
Economics and Land Ownership Survey (AELOS), and U.S.-level
estimates of cash and checkable deposits (Economic Report
of the President and other sources).
|
