Download Agriculture Fact Book 1999 (Agriculture Factbook, 1999) by US Department of Agriculture PDF

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Sample text

Farm business debt Billion dollars 200 Real estate 1 Nonreal estate 2 150 100 50 0 1965 67 1 Debt 73 75 secured by farm real estate. 69 71 2 Debt 77 79 81 83 85 87 89 91 93 97 for operating purposes. Source: USDA, Economic Research Service, Resource Economics Division. Figure 3-2. Farm business debt by lender Billion dollars 80 Farm Credit System 70 Banks 60 50 40 30 Farm Service Agency1 Individuals & others 20 Life insurance companies CCC Storage & Drying Facilities 10 0 1965 67 1 69 71 73 75 77 79 81 83 85 87 Includes the former Farmers Home Administration’s loans.

5 billion)—and three additional States exceeded $2 billion—Georgia, Illinois, and Nebraska. In contrast, four States had their net farm income plummet in excess of 50 percent: North Dakota (-90), Maine (-75), Wisconsin (-66), and New 38 99 03 Farm Sector F 8/16/00 2:19 PM Page 39 York (-51). The latter three States are in the northern tier of the traditional dairy States where producers may be among the higher cost producers. Short growing seasons and cold weather may put producers in the more northern latitudes at a comparative disadvantage to the more Southern States, in terms of costs per unit of output.

4 billion at year’s end. 2 percent. 2. This ratio is substantially below the peak of 24 percent reached in 1985. Real estate assets accounted for 78 percent of the value of farm business assets at the end of 1997. Real estate assets are expected to have increased 6 percent during the year. Non-real-estate assets are estimated to have increased 2 percent during 1997. The value of machinery and motor vehicles and for crops stored decreased from 1996 to 1997, whereas, the value of purchased inputs, financial assets, and livestock and poultry increased during this period.

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