FARM INCOME 1927 



Total value of crop and livestock sales 

 from 1927 production is estimated to be 

 nearly 20 per cent greater than 1926. 

 The estimated total cash value of farm 

 income for 1927 is $156,812,000. The re- 

 vised estimate for last year is $131,522,- 

 000, which up to that year was a record 

 for farm income value in the state. The 

 total farm income in 1925 was $123,732,- 

 000 and in 1924 $124,474,000. 



The largest increases in total income 

 for 1927 occurred in crop items, due to 

 unusually large production. Total in- 

 come from these sources was over 50 per 

 cent greater than 1926 and several mil- 

 lion dollars greater than for any year 

 since 1922. In spite of unusually high 

 prices for cattle and better than average 

 prices for most other classes of livestock, 

 income from livestock sources was nearly 

 ten per cent less than last year, but 

 larger than any other year since 1922. 



Estimates of total farm income were 

 first made in 1923, but judging from all 

 available information, it is not believed 

 that income for any previous year ex- 

 ceeded that of 1924. 



HOW THE ESTIMATES ARE MADE 



The estimates of farm income, which are made by the statistical division of 

 the State Division of Publicity, are based on the official estimates of crop pro- 

 duction and the prices received by producers on December 1 as applied to that 

 portion of each crop which is actually sold for cash. It has been found that while 

 these estimates are not entirely accurate they are comparable from year to year 

 and form a very good basis of comparison to show the relative changes that occur 

 from year to year in total farm income. 



The estimates of total crop production have proven to be relatively accurate 

 in estimating the actual total production of crops. While an attempt is made to 

 estimate the percentage of the crop that is actually sold for cash from market 

 receipts, records of railroad shipments and other data, it is difficult to estimate 

 the amounts of the crops that are sold and traded locally. 



The prices received on December 1 are not averages for the whole season for 

 any year, but it has been found that the prices on this date are better than those 

 of any other single date in approaching the actual average price. Again, these 

 prices are comparable and valuable to showing price trends from year to year. 



Duplication of value for crops that are fed to livestock and later marketed 

 as livestock products is eliminated by estimating the proportion of each crop that 

 is actually sold for cash. 



ESTIMATES OF FARM INCOME BY YEARS 



Income from Income from Total 



Crop Soiirces Livestock Sources Income 



1923 $46,784,000 $50,872,000 $ 97,656,000 



1924 74,343,000 50,131,000 124,474,009 



1925 - ™ 57,877,000 65,855,000 123,732,000 



1926 (Revised) 58,171,000 73,351,000 131,522,000 



1927 (Preliminary estimates)-.. 89,763,000 67,049.000 156,812,000 



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