[Economic Indicators January, 2008] [Page Number 7] [From the U.S. Government Publishing Office, www.gpo.gov] FARM INCOME According to the current forecast for 2007, gross farm income is forecast at $341.7 billion, and net farm income at $87.5 billion. ____________________________________________________________________________________________________________________________________________ [Billions of dollars; quarterly data at seasonally adjusted annual rates] -------------------------------------------------------------------------------------------------------------------------------------------------------- Income of farm operators from farming -------------------------------------------------------------------------------------------------------- Gross farm income ------------------------------------------------------------------------------- Period Cash marketing receipts --------------------------------------- Value of Direct Production Net farm Total \1\ Livestock inventory Government expenses income Total and Crops \2\ changes \3\ payments \4\ products -------------------------------------------------------------------------------------------------------------------------------------------------------- 1998 .......................................... 232.6 196.5 94.2 102.2 -0.6 12.4 185.5 47.1 1999 .......................................... 234.9 187.8 95.7 92.1 -.2 21.5 187.2 47.7 2000 .......................................... 243.7 192.1 99.6 92.4 1.6 23.2 193.0 50.7 2001 .......................................... 251.9 200.1 106.7 93.4 1.1 22.4 196.8 55.0 2002 .......................................... 232.8 195.0 94.0 101.1 -3.4 12.4 192.7 40.1 2003 .......................................... 260.0 215.6 105.6 109.9 -2.4 16.5 200.3 59.7 2004 .......................................... 296.0 237.3 123.6 113.7 11.2 13.0 210.0 85.9 2005 .......................................... 299.6 240.7 124.9 115.9 -1.1 24.4 222.5 77.1 2006 .......................................... 291.5 239.3 119.3 120.0 -1.6 15.8 232.5 59.0 2007 .......................................... 341.7 282.2 139.6 142.6 5.8 12.1 254.2 87.5 2005: I ....................................... 335.3 251.3 125.2 126.1 -1.1 48.1 232.2 103.1 II ...................................... 287.3 243.5 125.9 117.5 -1.1 9.0 225.0 62.3 III ..................................... 280.0 235.8 124.5 111.3 -1.0 10.4 218.0 62.1 IV ...................................... 295.7 232.4 123.9 108.5 -1.0 30.1 214.7 81.0 2006: I ....................................... 298.3 231.9 118.6 113.2 -1.5 31.1 225.3 73.0 II ...................................... 284.4 241.8 119.7 122.0 -1.6 5.8 234.9 49.5 III ..................................... 288.3 244.4 119.2 125.2 -1.6 6.7 237.5 50.9 IV ...................................... 294.9 239.0 119.6 119.4 -1.6 19.5 232.3 62.7 2007: I ....................................... 336.3 267.5 129.2 138.2 5.5 23.8 241.0 95.3 II ...................................... 339.3 286.7 145.7 140.9 5.9 4.5 258.2 81.1 III ..................................... 344.6 290.6 146.2 144.4 6.0 5.2 261.8 82.8 IV ...................................... 346.7 284.0 137.2 146.8 5.8 14.9 255.9 90.9 -------------------------------------------------------------------------------------------------------------------------------------------------------- \1\ Cash marketing receipts, Government payments, value of changes in inventories, other farm related cash income, and nonmoney income produced by farms including imputed rent of operator residences. \2\ Crop receipts include proceeds received from commodities placed under Commodity Credit Corporation loans. \3\ Physical changes in beginning and ending year inventories of crop and livestock commodities valued at weighted average market prices during the period. \4\ Includes only Government payments made directly to farmers. Note.--Data for 2007 are forecasts. Source: Department of Agriculture.