University of Nebraska-Lincoln Extension, Institute of Agriculture and Natural Resources

September 8, 2006

USDA releases farm income and economic data

The U.S. Department of Agriculture has released four reports related to farm income and economics. Following is a brief description of each and where to find them on the Web.

Farm Income Data: Estimates of farm sector income with component accounts: for the United States, 1910-2006; and for states, 1949-2005.

See http://www.ers.usda.gov/Data/FarmIncome/

Farm Sector and Household Income Forecast for 2006: USDA perspective on the 2006 incomes earned within the farm sector and by farm operator households. Farm sector income will be cast in the context of value added to the U.S. economy by farming. Value added will be distributed to stakeholders who provide production inputs, enabling farm income earned by farm households and their businesses to be estimated. For family farms, farm household income is compiled by farm typology, resource region, and commodity. Both farm and off-farm income levels are identified. Update of 2006 farm income forecasts to include new information from USDA’s August Crop Production report and other data. Release of the first estimate of 2005 calendar year income for the U.S. and states incorporates statistics from numerous USDA reports detailing information on commodity production, prices and marketings, plus production expense information collected from farm operations via the ARMS survey conducted in the spring of 2006.

See http://www.ers.usda.gov/Features/FarmIncome/2006/August/

Farm Household Economics and Well-Being: Indicators of economic well-being for U.S. farm operator households— including information on the level and variability of household income and wealth, from both farm and off-farm sectors. The level of household wealth affects the ability of farm households to maintain consumption expenditures in times of income shortfall, to secure credit, and to transfer wealth to future generations. This release reflects an update of the 2006 farm operator household income forecast.

See http://www.ers.usda.gov/Briefing/WellBeing/

Farm Income and Costs: Indicators of economic performance for the U.S. farm sector and major crop and livestock farm groups. Farm balance sheet estimates are used by USDA and other public and private sector clients to form a perspective about the financial health of the U.S. agricultural economy. Distributional analyses identify sub-sectors and business types that are performing well relative to past trends and to other groups and types of farms. Identification of these businesses enables analysts to more closely examine factors contributing to financial performance, such as assessment of debt-repayment difficulties of specific farm types, industry sub-sectors, and regions of the country. This release is an updated forecast for 2006 and the initial estimate of income for states in 2005, based on survey and administrative data.

See http://www.ers.usda.gov/Briefing/FarmIncome/

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Copyright 2006 by the University of Nebraska Board of Regents. All rights reserved.
Published by University of Nebraska-Lincoln Extension in the Institute of Agriculture and Natural Resources Cooperating with the counties and the U.S. Department of Agriculture.
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