Research/Extension Fact Sheet

1997 Ohio Farm Income

E.S.O. 2516


TABLE VI

TABLE VI
FARM INCOME STATEMENT OF OHIO, 1995-97 AND U.S. 1996, 1997
Ohio United States
1995 1996 1997 1996 1997
Million Dollars
Final crop output 2,838.5 3,069.6 3,691.3 115,590.9 112,498.0
Food grains 295.8 175.9 231.2 10,740.8 10,602.6
Feed crops 1,004.2 939.8 1,090.3 27,264.6 27,638.3
Cotton 0.0 0.0 0.0 6,983.2 6,515.1
Oil crops 1,054.5 921.2 1,359.9 16,361.6 19,911.0
Tobacco 31.7 34.3 28.9 2,796.0 2,885.6
Fruits and tree nuts 36.8 39.7 32.8 11,932.6 12,790.2
Vegetables 128.5 143.4 148.1 14,560.8 15,086.0
All other crops 558.1 598.3 589.5 15,935.4 16,667.7
Home consumption 3.7 3.3 2.8 91.5 78.0
Value of inventory adjustment 2/ (275.0) 213.7 207.8 8,924.4 323.4
Final animal output 1,639.0 1,903.0 1,885.0 92,190.3 96,199.5
Meat animals 558.8 702.8 709.4 44,414.4 49,925.2
Dairy products 598.7 649.5 583.2 22,820.3 20,989.3
Poultry and eggs 407.6 564.2 549.2 22,345.2 22,182.9
Miscellaneous livestock 24.3 26.9 27.1 3,424.9 3,470.6
Home consumption 18.4 20.5 21.7 333.0 380.3
Value of inventory adjustment 2/ 31.2 (61.0) (5.5) (1,147.5) (748.7)
Services and forestry 725.3 743.4 770.6 20,670.5 22,073.7
Machine hire and customwork 59.4 42.8 55.9 2,153.8 2,601.1
Forest products sold 188.2 186.7 176.9 2,824.3 2,840.0
Other farm income 71.7 78.6 76.6 5,893.8 6,350.0
Gross imputed rental value of farm dwellings 406.1 435.3 461.2 9,798.7 10,282.7
Final agricultural sector output 5,202.8 5,716.0 6,346.9 228,451.8 230,771.2
Less: Intermediate consumption outlays 2,452.3 2,598.9 2,589.6 112,851.6 118,551.8
Farm origin 825.9 868.8 898.7 42,674.8 45,695.4
Feed purchased 559.7 551.6 559.1 25,234.2 25,231.6
Livestock and poultry purchased 52.8 70.3 72.8 11,228.7 13,753.0
Seed purchased 213.4 247.0 266.8 6,212.0 6,710.8
Manufactured inputs 843.5 935.4 895.3 28,640.4 28,964.5
Fertilizers and lime 393.2 441.4 414.2 10,934.0 10,933.4
Pesticides 260.4 302.7 285.3 8,526.3 8,827.3
Petroleum fuel and oils 137.2 139.5 141.5 6,018.7 6,223.2
Electricity 52.7 51.7 54.3 3,161.4 2,980.7
Other intermediate expenses 782.9 794.7 795.6 41,536.3 43,891.9
Repair and maintenance of capital items 322.4 329.5 326.3 10,254.4 10,393.6
Machine hire and customwork 58.5 58.7 59.4 4,719.3 4,832.6
Marketing, storage, and transportation expenses 76.2 82.0 78.5 6,926.1 7,105.5
Contract labor 7.4 12.0 8.8 2,128.8 2,595.8
Miscellaneous expenses 318.3 312.5 322.6 17,507.7 18,964.4
Plus: Net government transactions (16.3) (19.2) (0.7) 98.4 56.1
+ Direct Government payments 167.4 163.1 186.4 7,339.6 7,496.0
- Motor vehicle registration and licensing fees 14.5 12.2 13.7 422.5 461.2
- Property taxes 169.2 170.2 173.5 6,818.7 6,978.7
Gross value added 2,734.3 3,097.9 3,756.5 115,698.6 112,275.5
Less : Capital consumption 743.0 747.7 764.4 19,419.1 19,520.2
Net value added 1,991.3 2,350.2 2,992.1 96,279.5 92,755.3
Less : Factor payments 997.4 1,005.7 1,059.1 42,927.5 42,931.3
Employee compensation (total hired labor) 268.0 266.7 271.4 15,406.2 16,010.5
Net rent received by nonoperator landlords 439.8 422.1 452.3 14,300.6 13,243.3
Real estate and nonreal estate interest 289.5 316.9 335.3 13,220.7 13,677.5
Net farm income 993.9 1,344.5 1,933.0 53,352.0 49,824.0
1/ Final sector output is the gross value of the commodities and services produced within a year. Net value-added is the sector's contribution to the National economy and is the sum of the income from production earned by all factors-of-production. Net farm income is equal to final agricultural sector output less intermediate consumption outlays plus net government transactions less capital consumption less factor payments. Net farm income is the farm operators' share of income from the sector's production activities. The concept presented is consistent with that employed by the Organization for Economic Cooperation and Development. 2/ A positive value of inventory change represents current-year production not sold by December 1. A negative value is an offset to production from prior years included in current-year sales.

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