A survey of all U.S. farmer cooperatives ending their business year during calendar year 1997 showed a net income of $2.31 billion, up from $2.25 billion in 1996 and near the record high of $2.36 billion in 1995. Gross and net business volumes were nearrecord highs for the 3,791 cooperatives in the survey. Assets, liabilities, and net worth also were up. Business volume by commodity handled is reported for all cooperatives and by State. Number of cooperatives, cooperative memberships, and number of employees are classified according to marketing, farm supply, and service function. Trends in cooperative numbers, memberships, business size, sales volume, net income, assets, liabilities, and net worth are reported along with data on selected activities of other service organizations.