USDA-NASS-NY Cash Receipts & Farm Income

E-mail: nass-ny@nass.usda.gov
(518) 457-5570

CASH RECEIPTS AND FARM INCOME

Released: August 2008
No. 971-1-08

NET FARM INCOME DECREASED 22 PERCENT

Net farm income in New York decreased 22 percent in 2006 to $869 million. Livestock output value decreased slightly to $2.02 billion while crop output value increased to $1.54 billion. Purchased inputs increased to $1.82 billion while direct government payments decreased 11 percent.

Decreases in purchased inputs for feed, seed, pesticides, electricity, repair and maintenance, machine hire and custom work,

marketing, storage and transportation expenses and miscellaneous expenses more than offset increase in costs for livestock and poultry purchases, fertilizer and lime, petroleum and oils, and contract labor.

Of other agricultural costs, property taxes were up 11 percent. Interest costs increased 13 percent.

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 is the format accepted and utilized internationally, making comparisons across countries more feasible.

VALUE ADDED TO NEW YORK ECONOMY BY AGRICULTURE, 2002-2006

Item		2002	2003	2004	2005	2006
			1,000 dollars

	Value of crop production	1,209,607	1,296,242	1,299,028	1,289,185	1,539,344
	Food grains	23,091	19,923	17,988	15,367	20,262
	Feed crops	185,853	176,077	196,657	178,591	219,398
	Oil crops	23,603	35,427	41,181	42,518	51,149
	Fruits and tree nuts	184,631	185,790	235,883	242,490	272,767
	Vegetables	472,306	443,360	457,929	463,139	545,347
	All other crops	349,318	362,211	364,472	391,180	418,369
	Home consumption	5,074	3,302	2,936	2,551	2,455
	Value of inventory adjustment	(34,269)	70,152	(18,018)	(46,650)	9,597

	Value of livestock production	1,964,355	1,918,376	2,296,622	2,319,001	2,015,037
	Meat animals	115,801	132,735	145,069	190,032	171,522
	Dairy products	1,557,888	1,559,555	1,950,144	1,913,724	1,609,742
	Poultry and eggs	86,673	104,230	113,636	113,210	92,366
	Miscellaneous livestock	133,671	146,891	90,126	110,266	108,081
	Home consumption	4,427	5,231	5,119	5,481	5,750
	Value of inventory adjustment	65,895	(30,266)	(7,472)	(13,712)	27,576

	Revenues from services and forestry	366,303	426,614	431,183	394,271	368,082
	Machine hire and customwork	33,024	95,816	52,601	46,714	34,806
	Forest products sold	12,249	12,004	12,724	12,342	11,130
	Other farm income	120,190	113,432	151,294	107,598	75,674
	Gross imputed rental value of farm dwellings	200,840	205,362	214,564	227,617	246,472

	Value of agricultural sector production	3,540,265	3,641,232	4,026,833	4,002,457	3,922,462

less:	Purchased inputs	2,003,495	1,796,763	1,843,878	1,738,620	1,817,138

	Farm origin	726,860	649,699	649,588	565,682	626,736
	Feed purchased	531,680	463,829	478,687	400,847	458,755
	Livestock and poultry purchased	27,275	10,549	9,668	17,691	23,967
	Seed purchased	167,905	175,321	161,233	147,144	144,014
	Manufactured inputs	441,465	399,140	439,469	470,909	489,463
	Fertilizers and lime	93,886	103,329	109,944	126,350	131,800
	Pesticides	98,141	90,902	95,524	90,902	90,902
	Petroleum fuel and oils	111,805	119,989	148,068	167,474	178,230
	Electricity	137,633	84,920	85,933	86,183	88,531
	Other purchased inputs	835,170	747,924	754,821	702,029	700,939
	Repair and maintenance of capital items	194,710	148,352	173,433	157,204	181,335
	Machine hire and customwork	76,332	32,554	41,839	33,722	38,448
	Marketing, storage, & transportation expenses	166,111	116,068	128,810	107,011	99,486
	Contract labor	13,547	23,501	24,101	23,795	19,608
	Miscellaneous expenses	384,470	427,449	386,638	380,297	362,062

plus	Net government transactions	765	(3,860)	(91,678)	(64,850)	(101,450)

	Direct Government payments	159,239	162,288	82,076	143,240	127,873
	Motor vehicle registration and licensing fees	6,523	6,071	6,054	7,994	6,359
	Property taxes	151,951	160,077	167,700	200,096	222,964

	Gross value added	1,537,536	1,840,609	2,091,278	2,198,987	2,003,874

less:	Capital consumption	403,070	411,343	433,754	459,133	474,516

	Net value added	1,134,466	1,429,266	1,657,524	1,739,854	1,529,358

less:	Payments to stakeholders	793,946	715,636	693,216	627,974	660,620
	Employee compensation (total hired labor)	564,606	510,289	505,322	429,424	441,588
	Net rent received by nonoperator landlords	49,020	45,762	30,148	15,935	12,098
	Real estate and nonreal estate interest	180,320	159,585	157,746	182,615	206,934

	Net farm income	340,520	713,630	964,308	1,111,880	868,738

SOURCE: Economic Research Service, U.S. Department of Agriculture.

CASH RECEIPTS

Cash receipts from New York farm marketings in 2007 totaled $4.45 billion, up 28 percent from the 2006 total. Receipts from livestock and poultry products were $2.73 billion.

Crop sales increased to $1.73 billion for 2007. Dairy product sales rose to $2.38 billion, over one-half of the total sales.

CASH RECEIPTS: Farm Marketings by Commodities, New York, 2003-2007

Commodity	2003	2004	2005	2006	2007
	1,000 dollars

ALL COMMODITIES	3,168,225	3,613,085	3,630,126	3,485,086	4,454,294

LIVESTOCK AND PRODUCTS	1,943,411	2,298,975	2,292,522	1,950,791	2,727,299
MEAT ANIMALS	132,735	145,069	190,032	171,522	118,742
Cattle and calves	120,703	127,331	173,378	157,204	104,834
Hogs	9,524	14,992	12,982	11,442	10,673
Sheep and lambs	2,508	2,746	3,672	2,876	3,235

DAIRY PRODUCTS	1,559,555	1,950,144	1,913,724	1,609,742	2,377,987

POULTRY/EGGS	104,230	113,636	76,912	61,998	122,643
Broilers	5,110	6,570	12,690	1,248	1,504
Farm chickens	9	11	13	10	8
Chicken eggs	56,330	59,844	34,671	39,246	78,604
Turkeys	4,781	5,911	6,446	7,434	8,237
Ducks	19,200	20,900	21,390	12,980	13,160
Other poultry	18,800	20,400	1,702	1,080	21,130

MISCELLANEOUS LIVESTOCK	146,891	90,126	111,854	107,529	107,927
Honey	6,561	5,917	6,044	4,992	4,533
Wool	86	75	63	90	64
Aquaculture	797	478	507	540	441
Trout	797	478	507	540	441
Other livestock	139,447	83,656	105,240	101,907	102,889
Mink pelts	147	156	152	152	114
All other livestock	139,300	83,500	105,088	101,755	102,775

CROPS	1,224,814	1,314,110	1,337,604	1,534,295	1,726,995
FOOD GRAINS	19,923	17,988	15,367	22,286	26,536
Rye	306	449	399	383	245
Wheat	19,618	17,539	14,968	21,902	26,291
FEED CROPS	176,077	196,657	178,591	212,799	287,785
Barley	732	779	513	624	1,071
Corn	71,199	88,641	80,013	99,947	190,997
Hay	100,841	104,660	94,943	106,232	90,453
Oats	3,306	2,577	3,122	5,996	5,265
OIL CROPS	35,427	41,181	42,518	55,575	74,353
Soybeans	35,294	41,008	42,450	55,575	74,353
Sunflower	133	172	68	N/A	N/A

VEGETABLES	443,360	457,929	463,101	554,162	647,584
Beans, dry	8,945	8,821	6,356	5,690	7,389
Potatoes	59,643	45,350	46,347	60,365	64,372
Beans, snap	40,433	26,956	35,842	63,198	64,739
Fresh	26,656	14,003	23,040	48,134	49,749
Processing	13,777	12,953	12,802	15,064	14,990
Cabbage	38,351	42,317	66,637	65,312	101,190
Fresh	38,351	42,317	66,637	65,312	101,190

SOURCE: Economic Research Service, U.S. Department of Agriculture.

CASH RECEIPTS: Farm Marketings by Commodities, New York, 2003-2007 (Continued)

Commodity	2003	2004	2005	2006	2007
	1,000 dollars

Cauliflower	2,072	920	3,349	2,814	3,887
Corn, sweet	92,859	68,483	69,884	84,484	87,886
Fresh	84,336	59,920	60,545	75,576	72,600
Processing	8,523	8,563	9,339	8,908	15,286
Cucumbers	12,461	24,122	15,282	26,372	24,490
Fresh	12,461	24,122	15,282	26,372	24,490
Onions	40,872	48,356	51,458	51,899	94,182
Storage	40,872	48,356	51,458	51,899	94,182
Peas, green	9,817	11,747	11,414	13,361	9,033
Processing	9,817	11,747	11,414	13,361	9,033
Tomatoes	25,953	22,860	21,456	30,760	32,486
Fresh	25,953	22,860	21,456	30,760	32,486
Squash	23,511	37,909	29,134	28,274	28,436
Pumpkins	9,943	25,389	21,942	18,833	22,694
Misc. vegetables	78,500	94,700	84,000	102,800	106,800

FRUITS	185,790	235,883	246,735	270,563	333,076
Apples	121,198	171,411	183,374	198,350	248,899
Fresh	89,922	130,755	142,284	157,274	198,467
Processing	31,276	40,656	41,090	41,076	50,432
Cherries	3,308	5,626	4,510	5,209	7,887
Sweet	1,046	1,245	1,267	1,973	3,518
Tart	2,262	4,381	3,243	3,236	4,369
Grapes	38,253	32,124	38,535	40,394	49,222
Peaches	4,218	4,232	2,828	4,489	3,995
Pears	5,513	5,370	4,088	6,685	5,120
Bartlett	5,513	5,370	4,088	6,685	5,120
Strawberries	7,750	10,400	8,060	7,480	7,590
Spring	7,750	10,400	8,060	7,480	7,590
Blueberries	2,578	2,315	1,963	2,796	3,373
Other berries	572	1,885	1,337	1,920	2,550
Misc. fruits and nuts	2,400	2,520	2,040	3,240	4,440

ALL OTHER CROPS	364,236	364,472	391,292	418,911	357,661
Maple products	5,628	7,191	7,037	8,020	8,020
Other seeds	503	402	362	400	320
Other field crops	820	723	1,071	1,360	1,655
Greenhouse/nursery	356,544	355,422	381,976	408,397	347,028
Floriculture	194,944	183,022	200,676	203,465	199,028
Nursery	55,260	N/A	N/A	63,343	N/A
Christmas trees	19,600	20,400	21,300	22,400	23,000
Other greenhouse	86,740	152,000	160,000	119,189	125,000
Mushrooms	741	734	846	734	638
Other forest products	12,004	12,724	12,342	11,130	10,570

NA - not available.