Farm Operating and Financial Characteristics, 1987

One-third of the farms and ranches with gross sales of at least $40,000 accounted for 75 percent of total land operated. An estimated 218.7 million acres were planted by farm operators. Corn, soybeans, and wheat together accounted for over 70 percent of total acreage planted. The Lake States and Northern Plains were the only regions where farm operators spent, on average, over 40 hours per week working on the farm. Farm operators age 45 to 64 accounted for 45 percent of U.S. capital investments and half of all expenditures for maintenance and repair of existing capital. Average operating expenses of farms with more than 2,000 acres were 10 times greater than for farms operating 100 acres or less. Cotton, poultry, and dairy were the only production specialties with less than 90 percent of farms reporting nonfarm income. Athough full-time farm operators represented 60 percent of all farms, they accounted for over 70 percent of total assets, debt, and equity. The data come from the 1987 Farm Costs and Returns Survey.

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AGES 9032

 Record created 2018-10-15, last modified 2020-10-28

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