farm income
DESCRIPTION
Farm Income. Farm Management In-Service Ames, Iowa Oct. 11, 2010 Chad Hart Assistant Professor/Grain Markets Specialist [email protected] 515-294-9911. Value of Crop Production. Source: USDA, ERS. Value of Livestock Production. Source: USDA, ERS. Relative Changes in Value. - PowerPoint PPT PresentationTRANSCRIPT
University Extension/Department of Economics
Farm Income
Farm Management In-ServiceAmes, Iowa
Oct. 11, 2010
Chad HartAssistant Professor/Grain Markets Specialist
University Extension/Department of Economics
Value of Crop Production
Source: USDA, ERS
0
10
20
30
40
50
60
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
$ B
illio
n
Feed crops Oil crops
University Extension/Department of Economics
Value of Livestock Production
Source: USDA, ERS
0
20
40
60
80
100
120
140
160
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
$ B
illio
n
Meat animals Dairy products Poultry and eggs
University Extension/Department of Economics
Relative Changes in Value
Source: USDA, ERS
0.8
0.9
1
1.1
1.2
1.3
1.4
1.5
1.6
1.7
1.8
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
(Val
ue in
200
0 =
1)
Meat animals Dairy products Poultry and eggs
University Extension/Department of Economics
Value of Ag. Production
Source: USDA, ERS
80
100
120
140
160
180
200
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
$ B
illio
n
Crops Livestock
University Extension/Department of Economics
Production Costs
Source: USDA, ERS
0
25
50
75
100
125
150
175
200
225
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
$ B
illio
n
Farm origin Manufactured inputs Other purchased inputs
University Extension/Department of Economics
Government Transactions
Source: USDA, ERS
-15
-10
-5
0
5
10
15
20
25
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
$ B
illio
n
Direct government payments Property taxes and other feesNet government transactions
University Extension/Department of Economics
Net Farm Income
Source: USDA, ERS
30
40
50
60
70
80
90
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
$ B
illio
n
University Extension/Department of Economics
Net Farm Income
Source: USDA, ERS
0
10
20
30
40
50
60
70
80
90
$ B
illio
n
University Extension/Department of Economics
Value of IA Crop Production
Source: USDA, ERS2010 Projections by Hart
0
1
2
3
4
5
6
7
8
9
10
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
$ B
illio
n
Feed crops Oil crops
University Extension/Department of Economics
Value of IA Livestock Production
Source: USDA, ERS2010 Projections by Hart
0
1
2
3
4
5
6
7
8
9
10
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
$ B
illio
n
Meat animals Dairy products Poultry and eggs
University Extension/Department of Economics
Relative Changes in Value
Source: USDA, ERS2010 Projections by Hart
0.8
1.3
1.8
2.3
2.8
3.3
3.8
4.3
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
(Val
ue in
200
0 =
1)
Meat animals Dairy products Poultry and eggs
University Extension/Department of Economics
Value of IA Ag. Production
Source: USDA, ERS2010 Projections by Hart
4
6
8
10
12
14
16
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
$ B
illio
n
Crops Livestock
University Extension/Department of Economics
IA Government Transactions
Source: USDA, ERS2010 Projections by Hart
-1
0
1
2
3
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
$ B
illio
n
Direct government payments Property taxes and other feesNet government transactions
University Extension/Department of Economics
IA Net Farm Income
Source: USDA, ERS2010 Projections by Hart
2
3
4
5
6
7
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
$ B
illio
n
University Extension/Department of Economics
Number of Farms
Source: USDA, ERS
0
200
400
600
800
1,000
1,200
1,400
$1 millionor more
$500K -999K
$250K -499K
$100K -249K
$50K -99K
$20K -49K
Lessthan$20K
Thou
sand
s
University Extension/Department of Economics
Value of Production
Source: USDA, ERS
0
10
20
30
40
50
60
70
80
$1 millionor more
$500K -999K
$250K -499K
$100K -249K
$50K -99K
$20K -49K
Less than$20K
$ B
illio
n
Value of crop production Value of livestock production
University Extension/Department of Economics
Net Government Transfers
Source: USDA, ERS
-3
-2
-1
0
1
2
3
$1 millionor more
$500K -999K
$250K -499K
$100K -249K
$50K -99K
$20K -49K
Less than$20K
$ B
illio
n
Direct government payments Motor vehicle registration & licensing fees
Property taxes Net government transactions
University Extension/Department of Economics
Net Farm Income
Source: USDA, ERS
-5
0
5
10
15
20
25
30
35
40
$1 millionor more
$500K -999K
$250K -499K
$100K -249K
$50K -99K
$20K -49K
Less than$20K
$ B
illio
n
University Extension/Department of Economics
Shares by Farm Value
Source: USDA, ERS
-10%
0%
10%
20%
30%
40%
50%
60%
70%
$1 millionor more
$500K -999K
$250K -499K
$100K -249K
$50K -99K
$20K -49K
Less than$20K
Value of ag. production Net farm income
University Extension/Department of Economics
Thank you for your time!
Any questions?
My web site:http://www.econ.iastate.edu/~chart/
Iowa Farm Outlook:http://www.econ.iastate.edu/outreach/agriculture/periodicals/ifo/
Ag Decision Maker:http://www.extension.iastate.edu/agdm/