ANALYSIS OF INCOME SOURCES 



DISTRIBUTION OF MONTANA FARM INCOME 



1924 



1925 1926 



■ 927 



Sales from the 1927 crop constituted 

 over half, or 56.9 per cent of the total 

 farm income for the year. In other 

 words, of every dollar received by Mon- 

 tana farmers from crop and livestock 

 sales in 1927 over half, or 57 cents, was 

 derived from crop sources. This is un- 

 usual for Montana. In fact, insofar as 

 records are available this is the second 

 time that crop sales have assumed great- 

 er importance than livestock sales in 

 Montana. In 1924 the income from crop 

 sources represented 59.7 per cent of the total farm income. 



Such a condition was to be expected for 1927. Crop production for all crops 

 taken together was by far the largest in the history of the state. Even with 

 prices below the level of 1926 the total value of the crop was greater than 

 for any previous year. In contrast, following the heavy selling, due to drouth and 

 shortage of feed a year ago, shipments of livestock in 1927 were much reduced. 

 Prices that averaged well above those of last year did not bring the total value 

 of livestock sales up to the level of last year. 



Relative trends of livestock and crop sales values are shown in the accom- 

 panying graph. 



SOURCES OF FARM INCOME 



Wheat, the most important single source of cash income to Montana farmers, 

 is expected to return to the state nearly 45 per cent of the total cash farm income 

 for 1927. The estimated cash value of the crop this year is $70,274,000, as com- 

 pared with an estimated cash value of $40,985,000 last year, $39,904,000 in 1925, 

 and $55,879,000 in 1924. The wheat crop this past year represents close to 78 

 per cent of the total cash crop value of the state. 



The second highest farm income factor for 1927 was cattle, the estimated 

 sales value of which is $29,299,000. The cash value of cattle sold in 1926 was $31,- 

 185,000. 



VALUE OP CROPS PRODUCED AND VALUE OF LIVESTOCK MARKETED IN 1926 AND 1927 



1926 



1927 



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