U.S. Farm Economics Statistics Summary

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Farm Numbers Up Slightly

U.S. farms, as of June 1, 1995, totaled 2.07 million, up less than half a percent from 1994. It was the first time since 1981 that farm numbers increased and was due to the gain in small farms. The average farm size decreased slightly to 469 acres, while land in farms also declined slightly to 972.3 million acres. Farms with annual sales of over $100,000 accounted for 16.1 percent of all farms and 53.7 percent of land in farms, averaging 1,566 acres.


Real Estate Values Up 6.4 Percent

Average U.S. farm real estate values, including land and buildings, averaged $832 per acre as of January 1, 1995, up 6.4 percent from a year earlier. The largest regional increase was in the Corn Belt, at 8.8 percent, and the smallest in the Pacific Region, at 2.6 percent.


Cash Receipts Reach Record $179.7 Billion

U.S. cash receipts from farm marketings reached a record $179.7 billion in 1994, up 1.4 percent from 1993. Crop cash receipts, at $91.6 billion, were up 5.1 percent, while livestock receipts, at $88.1 billion, were down 2.1 percent. California led in cash receipts at $20.2 billion, followed by Texas at $12.5 billion, Iowa at $10.1 billion, and Nebraska at $8.6 billion.


Prices Received Up 2.0 Percent; Prices Paid Up 2.8 Percent

Average prices received by farmers for all farm products in 1995 were up 2.0 percent with crop prices, largely grains, soybeans, and cotton, up 6.7 percent. Livestock prices, largely cattle and hogs, were down 3.2 percent from 1994. Overall prices paid by farmers were up 2.8 percent. Prices paid by crop farmers rose 3.7 percent, while prices paid by livestock farmers increased 1.0 percent.

Ranchers in the 17 States paid fees for grazing livestock on private lands averaging $10.60 per animal unit month, down 3.6 percent from 1994. Overall farm production expenditures rose 0.8 percent in 1995. U.S. farm wage rates rose to $6.54 per hour in 1995, an increase of 2.3 percent from 1994.


Exports Up Sharply

Corn exports for crop year 1995 are expected to be up 3.9 percent, wheat up 7.3 percent, cotton up 37 percent, tobacco up 6.5 percent, but soybeans down 3.3 percent compared with the 1994 crop year. Calendar year 1995 beef exports are up 13 percent, pork up 45 percent, and poultry meat up 34 percent from 1994.