Farm Family Living Outlook for 1938

Excerpts from the report: In farm-family records for the country as a whole, 1937 goes down as a "good year." Net farm money income available for living expenses and for getting ahead financially has been greater than in any year since 1929. By the end of December total receipts from marketings of farm products and from Government payments for 1937 are expected to be 14 percent higher than in 1936. All parts of the country have shared in this income increase. The South Central States were perhaps the most fortunate; the West North Central the least. The outlook for 1938 is for a rather less prosperous year for the farmer than was 1937. Total income from farm marketings may decrease somewhat since lower prices for farm products are expected. Production expenses for 1938 may rise slightly. Consequently, the net amount remaining after production expenses have been deducted from receipts from marketings probably will be smaller than in 1937. Income from Government payments in 1938 is expected to be somewhat above that of 1937; but this increase is not likely to offset the decline in net receipts from marketings. Hence, in 1938 farm money income may tend to be lower than in 1937.