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The Balance Sheet of the Farming Sector, 1970

Author

Listed:
  • Evans, Carson D.
  • Reinsel, Robert D.
  • Smith, Alan G.
  • Warren, Forest G.

Abstract

Farm assets totaled $311.4 billion on January 1, 1970, while farm debt outstanding reached $58.1 billion leaving farm proprietors' equities of $253.3 billion. The ratio of farm debt to value of assets was 18.7 percent, up 0.4 point from a year earlier. Advances in the value of farm real estate made up half of 1969's $12.3 billion gain in farm asset value. Higher values for livestock and poultry mainly accounted for the rest of asset growth. Farm non-real estate debt grew $2.2 billion during 1969 compared with $1.3 billion for farm real estate debt, the latter figure indicating farmers’ reluctance to enter long-term loan contracts at the high interest rates prevailing last year. Regionally, the Corn Belt had the highest value of farm assets but farm debt was also highest there. As a group, farmers who had gross sales of $20,000 to $39,999 during 1969 owned the largest share of farm assets and owed the largest proportion of farm debt.

Suggested Citation

  • Evans, Carson D. & Reinsel, Robert D. & Smith, Alan G. & Warren, Forest G., 1971. "The Balance Sheet of the Farming Sector, 1970," Agricultural Information Bulletins 305795, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersab:305795
    DOI: 10.22004/ag.econ.305795
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    Cited by:

    1. Lanier, Eleanor B., 1974. "Economics of Agriculture: Reports and Publications Issued or Sponsored by USDA's Economic Research Service, July 1971-June 1972," Miscellaneous Publications 321804, United States Department of Agriculture, Economic Research Service.
    2. Gulley, James L., 1974. "Beliefs and Values in American Farming," Miscellaneous Publications 327167, United States Department of Agriculture, Economic Research Service.

    More about this item

    Keywords

    Financial Economics; Production Economics;

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