FARM INCOME IN 1929 



Combined sales of crops and livestock and its products in 1929 are valued at 

 $125,595,000, compared with $147,945,000, revised estimate for 1928, and $151,- 

 713,000 for 1927. 



In this total, crop sales are estimated at $51,031,000, compared with $75,777,- 

 000 in 1928 and $88,409,000 in 1927, while the value of livestock marketings and 

 sales of livestock products is placed at $74,564,000 in 1929, compared with $72,168,- 

 000 in 1928 and $63,304,000 in 1927. 



MONTANA AGRICULTURAL INCOME* 



Year From Crops Sold From Livestock Sold Total 



1929 $51 , 031 , 000 $74 , 564 , 000 $125 , 596 , 000 



1928 75,777,000 72,168,000 147,945,000 



1927 88,409,000 63,304,000 151,713,000 



1926 57,971,000 75,007.000 132,978,000 



1926 57,877,000 66,052,000 123,929,000 



1924 74,343,000 60,559,000 124,902,000 



1928 47,334,000 48,001,000 95,336,000 



1922 41,799,000 42,212,000 84,011.000 



1921 31,010,000 26,485,000 57,495,000 



1920 64,200,000 48,039,000 102,239,000 



*Based on estimated values of farm sales of crops and livestock and its products. 



From this table is indicated the expansion of both the crop production and 

 the livestock industry in the state in the past 10 years. In case of crops, while 

 the principal cash crop, wheat, has expanded considerably during this period there 

 has also developed an increasing income from other cash crops such as sugar 

 beets, peas, beans, alfalfa seed, flaxseed, and potatoes. In case of livestock, while 

 both the cattle and sheep marketings have increased during this period, there 

 has been a substantial increase also in the value of dairy products, poultry and 

 bees. 



As a whole the state's agricultural industry has become more diversified dur- 

 ing the past 10 years despite the fact that there are large areas within the state 

 where much of the enterprise is concentrated largely in one crop or one class of 

 livestock. 



Diversification of the state's agricultural income as between crops and live- 

 stock gives a tendency of income from either source to be offsetting. In other 

 words, years of relatively low crop income show relatively large income from 

 livestock, while years of large crop income tend to show relatively lower income 

 from livestock sources. This is partly explained by the fact that the dry seasons 

 which frequently lower crop income by reducing the quantity for market, also in- 

 fluences larger marketings of range livestock by reducing feed supplies. On the 

 other hand years of good crops are usually years of favorable feed supplies tend- 

 ing to reduce marketings of range livestock. A contributing factor is the tendency 

 of farmers to sell livestock in years of poor crops and to hold in years of favor- 

 able crops. 



In the table of yearly income the year 1929 is an example where the lowest 

 crop income since 1923 was associated with the second largest livestock income of 

 the 10-year period. On the other hand the year 1924 with the third largest crop 

 income is associated with a relatively low income from livestock. 



An itemized statement of the preliminary estimates of 1929 income com- 

 pared with the revised estimates for 1928 is given in the following table: 



• ESTIMATED CASH INCOME FROM AGRICULTURAL PRODUCTS 



Livestock and Products Revised 1928 Preliminary 1929 



1. Cattle and Calves. $28,858,000 $28,357,000 



2. Sheep and Lambs 11,105,000 18,934,000 



8. Hogs 6,262,000 7,110,000 



4. Wool 10,118,000 8,482,000 



5. Dairy Products 11,888,000 11,998,000 



6. Poultry 4,814,000 4,098,000 



7. Horses 847,000 885.000 



8. Honey and Wax 281,000 260,000 



TOTAL LIVESTOCK INCOME $72,168,000 $74,664,000 



