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Abstract

Farm assets totaled $311.4 billion on January 1, 1970, while farm debt outstanding reached $58.1 billion leaving farm proprietors' equities of $253.3 billion. The ratio of farm debt to value of assets was 18.7 percent, up 0.4 point from a year earlier. Advances in the value of farm real estate made up half of 1969's $12.3 billion gain in farm asset value. Higher values for livestock and poultry mainly accounted for the rest of asset growth. Farm non-real estate debt grew $2.2 billion during 1969 compared with $1.3 billion for farm real estate debt, the latter figure indicating farmers’ reluctance to enter long-term loan contracts at the high interest rates prevailing last year. Regionally, the Corn Belt had the highest value of farm assets but farm debt was also highest there. As a group, farmers who had gross sales of $20,000 to $39,999 during 1969 owned the largest share of farm assets and owed the largest proportion of farm debt.

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