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Is the Bloom off the Rose for Eighth District Farmers?

ENDNOTES

  1. Net farm income is the sum of: 1) crop and livestock cash receipts; 2) government farm program payments; 3) farm-related income; and 4) noncash income (such as the value of food grown on the farm for home consumption), less production expenses, depreciation and real estate taxes. NFI also includes an adjustment for changes in the value of farm inventories. An increase in crop prices, for example, will boost the value of farm inventories and, thus, NFI. Official USDA farm income numbers--both actual and forecast--are expressed in nominal, or current dollar, terms.
  2. See farm sector indicator charts for further detail on recent U.S. agricultural developments.
  3. See Kliesen (1998).
  4. About 90 percent of gross cash income is comprised of crop and livestock receipts. See Endnote 1 above.
  5. See USDA (1999).

REFERENCES

Kliesen, Kevin L. "How Susceptible is the United States to the Asian Flu?" The Regional Economist, Federal Reserve Bank of St. Louis (April 1998), pp. 11-12.

United States Department of Agriculture. "USDA Agricultural Baseline Projections to 2008," Interagency Agricultural Projections Committee, Staff Report WAOB-99-1 (February 1999).