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Economic indicators of the Farm Sector: State Financial Summary, 1991

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  • Agriculture and Rural Economy Division, Economic Research Service

Abstract

California led in net farm income for 1991 with $5.6 billion. Texas was second with $3.1 billion, followed by Florida ($2.7 billion), Iowa ($2.3 billion), and North Carolina ($2.1 billion). Net farm income reflects cash income minus cash expenses plus adjustments for noncash and operator dwelling income and expenses. Cattle and calves and dairy products were the top commodities in cash receipts. Texas led cattle and calf receipts with $6.2 billion, and Wisconsin topped dairy sales with $2.9 billion. Corn and soybeans were the third- and fifth-ranked commodities, and Illinois led in sales for both, with receipts of $2.7 billion and $2 billion, respectively. Hogs ranked fourth, and Iowa was the leader with receipts of $2.9 billion. Excluding operator households, California, Texas, and Iowa are the top three States, whether ranked by assets, total debt, real estate debt, or nonreal estate debt. Texas ranked first in farm assets ($73.2 billion), California second ($70.1 billion), and Iowa third ($51.3 billion). California ranked first in total debt ($13.1 billion), followed by Iowa ($9.8 billion) and Texas ($9.7 billion).

Suggested Citation

  • Agriculture and Rural Economy Division, Economic Research Service, 1993. "Economic indicators of the Farm Sector: State Financial Summary, 1991," Miscellaneous Publications 364291, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersmp:364291
    DOI: 10.22004/ag.econ.364291
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