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Farm Operating and Financial Characteristics, 1987

Author

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  • Morehart, Mitchell J.

Abstract

One-third of the farms and ranches with gross sales of at least $40,000 accounted for 75 percent of total land operated. An estimated 218.7 million acres were planted by farm operators. Corn, soybeans, and wheat together accounted for over 70 percent of total acreage planted. The Lake States and Northern Plains were the only regions where farm operators spent, on average, over 40 hours per week working on the farm. Farm operators age 45 to 64 accounted for 45 percent of U.S. capital investments and half of all expenditures for maintenance and repair of existing capital. Average operating expenses of farms with more than 2,000 acres were 10 times greater than for farms operating 100 acres or less. Cotton, poultry, and dairy were the only production specialties with less than 90 percent of farms reporting nonfarm income. Athough full-time farm operators represented 60 percent of all farms, they accounted for over 70 percent of total assets, debt, and equity. The data come from the 1987 Farm Costs and Returns Survey.

Suggested Citation

  • Morehart, Mitchell J., 1990. "Farm Operating and Financial Characteristics, 1987," Staff Reports 278326, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerssr:278326
    DOI: 10.22004/ag.econ.278326
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    File URL: https://ageconsearch.umn.edu/record/278326/files/ers-report-461.pdf
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    References listed on IDEAS

    as
    1. Johnson, James D., 1987. "Measurement of Farm Financial Performance: Empirical Issues and Current Status," Research Bulletins 183668, Cornell University, Department of Applied Economics and Management.
    2. Morehart, Mitchell J. & Prescott, Richard, 1986. "Farm Operating And Financial Characteristics, January 1985," Staff Reports 277891, United States Department of Agriculture, Economic Research Service.
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    Cited by:

    1. Bentley, Susan E. & Kalbacher, Judith Z. & Banker, David E. & Reimund, Donn A. & Morehart, Mitchell J., 1992. "Characteristics of Farms with Sales of $40,000 or More, 1987-89," Staff Reports 278640, United States Department of Agriculture, Economic Research Service.

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    More about this item

    Keywords

    Agricultural Finance; Farm Management;

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