Research/Extension Fact Sheet

1998 Ohio Farm Income

E.S.O. 2554


VI. Farm Income Statement of Ohio, 1996-98 and U.S. 1997-1998

Ohio United States
1996 1997 1998 1997 1998
Million Dollars
Final crop output 3,091.0 3,685.2 3,125.2 112,141.8 101,951.6
Food grains 176.0 218.7 169.7 10,137.2 8,733.8
Feed crops 945.4 1,053.3 1,009.2 27,101.5 22,926.7
Cotton 0.0 0.0 0.0 6,345.6 6,013.2
Oil crops 921.4 1,276.9 1,108.5 19,673.4 17,198.5
Tobacco 34.3 28.9 46.1 2,874.3 2,989.3
Fruits and tree nuts 35.1 23.0 25.4 13,073.6 11,727.0
Vegetables 143.3 149.3 140.4 14,961.3 15,337.3
All other crops 595.7 611.2 625.1 16,909.1 17,296.5
Home consumption 5.4 5.5 5.5 149.2 149.3
Value of inventory adjustment 2/ 234.4 318.2 (4.7) 916.6 (420.1)
Final animal output 1,919.4 1,816.4 1,816.7 96,542.8 94,276.1
Meat animals 706.8 705.0 614.7 49,681.6 43,604.5
Dairy products 649.5 583.2 662.1 20,940.3 24,312.3
Poultry and eggs 576.0 550.1 534.8 22,233.9 22,806.4
Miscellaneous livestock 27.5 36.9 36.5 3,679.4 3,815.9
Home consumption 20.5 21.7 19.8 381.7 348.7
Value of inventory adjustment 2/ (61.0) (80.5) (51.1) (374.1) (611.6)
Services and forestry 757.4 790.0 849.6 22,488.8 24,611.7
Machine hire and customwork 64.8 77.3 67.7 2,601.1 2,309.1
Forest products sold 181.5 185.1 187.0 2,900.1 2,816.5
Other farm income 99.6 104.4 129.9 6,895.5 8,671.5
Gross imputed rental value of farm dwellings 411.5 423.2 465.0 10,092.1 10,814.6
Final agricultural sector output 5,767.8 6,291.5 5,791.5 231,173.4 220,839.5
Less: Intermediate consumption outlays 2,641.7 2,677.1 2,693.6 120,945.8 118,738.8
Farm origin 879.3 933.3 888.1 46,860.2 44,933.8
Feed purchased 555.0 582.9 520.8 26,331.6 25,031.4
Livestock and poultry purchased 70.3 74.1 69.4 13,817.7 12,691.3
Seed purchased 254.0 276.3 297.8 6,710.8 7,211.1
Manufactured inputs 933.9 903.2 891.4 29,234.7 28,274.1
Fertilizers and lime 441.4 414.2 408.8 10,933.4 10,652.6
Pesticides 292.4 280.6 290.5 9,027.3 9,127.9
Petroleum fuel and oils 147.2 151.1 140.0 6,230.1 5,585.2
Electricity 52.8 57.3 52.0 3,043.9 2,908.4
Other intermediate expenses 828.5 840.6 914.1 44,851.0 45,530.8
Repair and maintenance of capital items 331.2 325.1 342.7 10,412.0 10,353.6
Machine hire and customwork 60.9 64.0 73.4 4,923.2 5,547.6
Marketing, storage, and transportation expenses 82.4 79.2 88.8 7,118.3 6,722.3
Contract labor 12.5 9.2 8.5 2,591.5 2,374.2
Miscellaneous expenses 341.5 363.1 400.7 19,806.0 20,533.1

TABLE VI (Continued)

FARM INCOME STATEMENT OF OHIO, 1996-98 AND U.S. 1997, 1998

Ohio United States
1996 1997 1998 1997 1998

Million Dollars

Plus: Net government transactions (16.0) 2.0 112.8 168.8 4,558.5
+ Direct Government payments 163.1 186.4 313.1 7,495.3 12,219.6
- Motor vehicle registration and licensing fees 12.7 14.6 16.0 474.4 497.4
- Property taxes 166.4 169.8 184.3 6,852.2 7,163.7
Gross value added 3,110.1 3,616.5 3,210.8 110,396.4 106,659.2
Less : Capital consumption 729.2 737.0 748.8 19,293.2 19,448.2
Net value added 2,380.8 2,879.6 2,462.0 91,103.2 87,211.1
Less : Factor payments 994.4 1,072.9 1,163.5 42,480.6 43,122.8
Employee compensation (total hired labor) 266.8 271.4 317.9 16,017.9 16,903.8
Net rent received by nonoperator landlords 414.0 467.7 492.1 12,938.2 12,625.9
Real estate and nonreal estate interest 313.7 333.7 353.4 13,524.4 13,593.0
Net farm income 1,386.4 1,806.7 1,298.5 48,622.6 44,088.3
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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