FARM PROFITS. 17 



FAMILY LIVING FROM THE FARM. 



Farm receipts, farm income, labor income, and value of farmer's 

 labor, as already discussed, do not include the value of the family 

 living from the farm. It is well understood that a very significant 

 proportion of the farmer's family living comes directly from the farm. 

 This may be considered as a form of income additional to that of 

 farm receipts, farm income, or labor income. An estimate of the 

 value of the items food, fuel, and house rent thus furnished in this 

 area was $359 per farm for the seven-year average, having increased 

 from $300 in 1912 to $494 in 1918. 



PRODUCTS SOLD AXD PRICES RECEIVED. 



The amount of farm products produced for sale or for use in 

 increasing the size of the farm business is of value in determining 

 the possibilities of success in various areas. While it is important 

 that a farm be so organized as to contribute liberally toward the 

 farmer's living, a farm can not be considered a profitable business 

 until it is yielding enough products for sale to maintain itself ade- 

 quately as a business organization. It was not possible to reduce 

 to quantity form all the various products sold from these farms, but 

 in Table I are shown the amounts for the more important sources of 

 income. The number of cattle for the seven-year period averaged 

 3 head, eggs 677 dozen, wool 301 pounds, hogs 9 head, and wheat 45 

 bushels. The most cattle were sold in 1917, the most eggs in 1914, 

 the most wool in 1912, the most hogs in 1914-15. and the most wheat 

 in 1915. 



The prices also which the farmers received over the seven-year 

 period for these products are shown in Table I. In 1912 the average 

 price received for cattle was $5.70 per hundredweight, in 1916 it had 

 advanced to $8.20, and in 1918 to $10.24. Eggs for- the first four 

 years remained at 19 cents per dozen, but in 1918 had advanced to 

 34 cents. Wool showed a large advance in 1917 and remained at 

 the same price (65 cents per pound) for 1918. In 1913 and 1914 the 

 increased price of hogs brought increased production, but with the 

 drop in price in 1915 the production the following year was decreased. 

 From a study of the production and prices shown in this table it is 

 evident that the increase in profits was due more to increased prices 

 than to increased production. 



LABOR INCOME AND RETURN ON CAPITAL OVER THE SEVEN-YEAR PERIOD. 



The labor income for each of the 25 farmers is shown for each year 

 in Table II, and the per cent return on the capital in Table III. 

 The farms in each table are arranged beginning with the farm having 

 the highest seven-year average labor income. The labor incomes are 

 also shown graphically in figure 7. 

 13648°— 20— Bull. 920— '3 



