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CASH RECEIPTS
AND FARM INCOME


Released: August 2002
No. 971-2-02

NET FARM INCOME UP 35 PERCENT

Net farm income in New York increased 35 percent in 2001 to $803 million, the highest on record. The high level of income was due primarily to an increase in the value of livestock production of 20 percent to $2.23 billion. The value of crop production was 1.22 billion, up 6 percent. Purchased inputs increased 6 percent to $1.84 billion.

Increases in consumption outlays for feed purchased, seed purchased, fertilizers and lime, pesticides, repair and maintenance of capital items, machine hire and custom work, marketing, storage and transportation expenses, and miscellaneous expenses more than offset decreases in livestock and poultry purchased, petroleum fuel and oils, electricity, and contract labor.

Of other agricultural costs, property taxes were up 3 percent. Interest costs decreased slightly.

NET VALUE ADDED

The value-added format is used to present income accounts, replacing the traditional net farm income format. The underlying accounting concepts are the same under both formats and the value for net farm income is identical. The presence of more disaggregated components under the value-added format makes it easier to discern what forces are driving the changes and trends in farm income. In addition, the value added approach to sector accounting has the advantage of being the format accepted and utilized internationally, making comparisons across countries more feasible.

Value Added to the Economy by the Agricultural Sector, New York, 1997-2001

Item 1997 1998 1999 2000 2001
1,000 dollars
Value of crop production 1,010,766 1,047,832 1,119,997 1,149,654 1,222,057
Food grains 24,354 17,781 18,649 15,155 19,684
Feed crops 172,242 172,745 144,734 159,714 170,739
Oil crops 16,151 12,661 22,899 20,460 25,096
Fruits and tree nuts 203,802 189,466 207,308 200,821 178,397
Vegetables 313,633 389,048 399,743 470,667 482,006
All other crops 271,057 294,045 303,568 323,967 323,241
Home consumption 2,628 2,628 2,697 2,561 2,593
Value of inventory adjustment 6,899 (30,542) 20,399 (43,691) 20,301
Value of livestock production 1,788,850 2,077,728 2,052,441 1,862,685 2,232,863
Meat animals 125,245 118,818 131,244 181,773 165,908
Dairy products 1,526,158 1,786,862 1,743,094 1,543,966 1,840,858
Poultry and eggs 86,704 91,654 86,473 96,264 99,979
Miscellaneous livestock 89,984 94,415 88,527 108,724 113,882
Home consumption 4,102 3,448 3,390 3,449 3,223
Value of inventory adjustment 2/ (43,343) (17,469) (287) (71,491) 9,013
Revenues from services and forestry 264,249 264,663 304,555 366,808 288,560
Machine hire and custom work 36,221 27,384 16,817 37,999 22,201
Forest products sold 9,618 10,099 10,125 11,846 11,135
Other farm income 73,544 80,203 131,258 161,954 95,882
Gross imputed rental value of farm dwellings 144,866 146,977 146,355 155,009 159,342
Value of agricultural sector production 3,063,865 3,390,223 3,476,993 3,379,146 3,743,481
less: Purchased inputs 1,754,235 1,820,234 1,768,943 1,738,623 1,837,613
Feed purchased 484,335 511,970 478,877 436,306 465,720
Livestock and poultry purchased 14,396 14,414 19,370 30,649 30,099
Seed purchased 119,379 129,370 111,437 130,651 133,212
Fertilizers and lime 113,375 108,440 104,662 101,909 111,914
Pesticides 88,475 91,329 82,766 85,620 88,475
Petroleum fuel and oils 111,276 99,156 91,547 121,266 120,936
Electricity 92,796 72,793 79,295 86,298 84,317
Repair and maintenance of capital items 197,874 221,317 203,792 217,181 221,249
Machine hire and custom work 49,087 65,012 61,452 59,547 67,687
Marketing, storage, & transportation expenses 139,943 117,325 132,351 126,922 138,252
Contract labor 15,466 17,910 19,239 13,334 10,194
Miscellaneous expenses 327,833 371,198 384,155 328,940 365,558
plus: Net government transactions (151,999) (135,514) (76,189) (29,304) (79,785)
plus: Direct Government payments 39,623 60,799 120,397 159,876 114,039
less: Motor vehicle registration and licensing fees 5,582 6,478 5,648 7,481 5,966
less: Property taxes 186,040 189,835 190,938 181,699 187,858
Gross value added 1,157,631 1,434,475 1,631,861 1,611,219 1,826,083
less: Capital consumption 375,963 380,242 390,316 389,735 393,976
Net value added 781,668 1,054,233 1,241,545 1,221,484 1,432,107
less:  Employee compensation (total hired labor) 390,047 406,618 364,989 417,325 414,722
Net rent received by nonoperator landlords 21,865 15,446 16,119 18,288 23,664
Real estate and nonreal estate interest  176,414 181,676 184,208 191,448 190,901
Net farm income 193,342 450,493 676,229 594,423 802,820

2001 CASH RECEIPTS UP 9 PERCENT

Cash receipts from New York farm marketings in 2001 reached $3.41 billion, 9 percent more than the 2000 total. Receipts from livestock and poultry products are estimated at $2.22 billion, up 15 percent from the previous year. Dairy receipts were up over 19 percent to $1.84 billion. Crop sales are an estimated $1.19 billion, down 1 percent from a year ago. Decreases in fruit slightly offset increases in field crops and vegetable receipts.

CASH RECEIPTS:  Farm Marketings by Commodities, 1997-2001

Commodity 1997 1998 1999 2000 2001
----1,000 dollars----
ALL COMMODITIES
2,829,330
3,167,999
3,148,783
3,125,415
3,407,859
LIVESTOCK AND PRODUCTS 1,828,091 2,091,749 2,049,338 1,930,727 2,220,627
MEAT ANIMALS  125,245 118,818 131,244 181,773 165,908
Cattle and calves 108,148 106,712 122,904 172,601 151,540
Hogs 13,851 8,828 5,503 6,266 10,777
Sheep and lambs 3,246 3,278 2,837 2,906 3,591
DAIRY PRODUCTS 1,526,158 1,786,862 1,743,094 1,543,966 1,840,858
POULTRY/EGGS 86,704 91,654 86,473 96,264 99,979
Broilers  2,730 4,059 4,290 4,248 5,002
Farm chickens  320 280 51 106 11
Chicken eggs 51,671 51,272 47,121 52,311 54,007
Turkeys  5,077 4,780 5,239 5,329 4,537
Ducks and other poultry 26,906 31,263 29,772 34,270 36,422
MISCELLANEOUS LIVESTOCK 89,984 94,415 88,527 108,724 113,882
Honey 3,672 3,640 3,188 2,552 2,523
Horses/mules 45,000 45,000 NA NA NA
Wool 185 93 93 40 54
Trout 817 921 696 615 707
Mink pelts 710 761 756 199 211
All other livestock 39,600 44,000 83,794 105,318 110,387
CROPS  1,001,239 1,076,250 1,099,445 1,194,688 1,187,232
FOOD GRAINS 24,354 17,849 18,765 15,287 14,596
Rye 381 927 888
Wheat 23,973 16,922 17,876 14,926 14,363
FEED CROPS 172,242 173,180 146,295 161,860 166,630
Barley NA NA NA 358 589
Corn 86,007 81,838 61,683 56,971 59,219
Hay 83,509 87,646 81,674 102,343 104,370
Oats 2,726 3,696 2,937 2,188 2,452
OIL CROPS 16,151 12,661 22,922 21,557 25,712
Soybeans 15,845 12,389 22,696 21,387 25,611
VEGETABLES 313,633 389,048 399,743 469,460 480,965
Beans, dry 9,175 9,581 9,734 5,683 4,481
Potatoes 62,242 58,979 55,251 59,716 52,115
Beans, snap 28,790 30,210 33,636 48,772 51,697
Fresh 17,317 16,647 19,828 31,537 40,194
Processing 11,473 13,563 13,808 17,235 11,503
Beets 2,620 2,167 3,036 2,442 2,664
Cabbage 49,620 46,066 59,033 83,688 87,054
Fresh 46,415 43,198 55,692 79,624 83,278
Processing 3,205 2,868 3,341 4,064 3,776

CASH RECEIPTS:  Farm Marketings by Commodities, 1997-2001 (Continued)

Commodity 1997 1998 1999 2000 2001
----1,000 dollars----
Carrots 4,251 4,164 7,144 NA NA
Cauliflower 6,960 9,637 6,319 4,104 4,323
Corn, sweet 44,812 63,077 64,857 68,040 80,199
Fresh 29,696 47,567 52,193 56,441 68,370
Processing 15,116 15,510 12,664 11,599 11,829
Cucumbers NR NR NR NR NR
Fresh 12,840 14,668 16,848 20,269 20,103
Processing NR NR NR NR NR
Eggplant, all NA NA NA 3,694 4,884
Escarole NA NA NA 2,606 2,672
Lettuce 2,940 3,300 3,339 NA NA
Onions 36,481 47,853 42,084 36,739 48,928
Peas, green 8,446 12,705 9,963 6,693 12,324
Peppers, green, fresh NA NA NA 7,079 6,012
Spinach NR NR NR NR NR
Fresh NA NA NA 3,202 684
Processing NR NR NR NR  NR
Tomatoes NR NR NR 30,672 28,512
Fresh 11,174 13,398 12,317 30,672 28,512
Processing NR NR NR NA NA 
Squash NA NA NA 17,206 14,851
Pumpkins NA NA NA 26,334 23,923
Misc. vegetables 32,400 72,000 75,400 42,000 35,000
FRUITS 203,802 189,466 208,153 202,941 176,089
Apples 140,200 127,989 121,545 130,525 106,788
Fresh 89,400 82,101 77,641 90,807 74,968
Processing 50,800 45,888 43,904 39,718 31,820
Cherries 3,355 3,546 4,160 4,766 4,373
Sweet 1,069 1,346 1,494 1,230 1,610
Tart 2,286 2,200 2,666 3,536 2,763
Grapes 40,024 38,884 58,366 45,940 45,004
Peaches 5,296 3,538 5,454 4,524 3,736
Pears 3,070 3,754 4,390 4,551 4,008
Strawberries 6,767 7,015 8,268 6,825 7,080
Blueberries 1,602 1,536 1,733 1,816 1,765
Other berries and fruits 3,488 3,204 4,237 3,994 3,335
ALL OTHER CROPS 271,057 294,045 303,568 323,583 323,241
Maple products 6,752 6,202 5,324 6,090 5,018
Other seeds 1,114 1,201 876 175 490
Other field crops and seeds 1,960 1,697 2,121 406 1,352
Greenhouse/nursery 260,694 284,120 294,105 315,504 315,283
Floriculture 147,494 158,820 162,905 179,883 172,383
Nursery NA NA NA 50,633 NA
Christmas trees 13,200 15,300 16,200 17,000 17,900
Other greenhouse 100,000 110,000 115,000 67,988 125,000
NA - not available.
NR - not for release.