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Economic Indicators of the Farm Sector: State Financial Summary, 1992

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  • Agriculture and Rural Economy Division, Economic Research Service

Abstract

California had the highest estimate of net farm income of any State for 1992 with $4.8 billion. Texas was second with $3.5 billion. Farm operations in four other States produced incomes in excess of $2 billion: Florida ($2.8), Nebraska ($2.7), Iowa ($2.5), and North Carolina ($2.5). Net farm income reflects the net value of all goods and services produced within the year. Cattle and calves and dairy products were the top commodities in cash receipts. Texas led cattle and calf receipts with $5.6 billion, and Wisconsin topped dairy sales with $3.1 billion. Corn and soybeans were the third- and fourth-ranked commodities in the nation, with Illinois and Iowa ranked first and second, respectively, in sales for both. Illinois’ receipts for corn and soybeans were $2.8 billion and $2 billion, respectively. Hogs were the fifth-ranked commodity, with Iowa the leading producer at $2.7 billion. California, Iowa, and Texas were the top three States, when ranked by assets, total debt, real estate debt, or nonreal estate debt. Texas ranked first in farm assets ($74.4 billion), California second ($68.1 billion), and Iowa third ($54.1 billion). California ranked first in total debt ($13.1 billion), followed by Iowa ($9.9 billion) and Texas ($9.3 billion).

Suggested Citation

  • Agriculture and Rural Economy Division, Economic Research Service, 1994. "Economic Indicators of the Farm Sector: State Financial Summary, 1992," Miscellaneous Publications 361274, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersmp:361274
    DOI: 10.22004/ag.econ.361274
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