Economic Indicators of the Farm Sector: State Financial Summary, 1987

The top five States in net farm income in 1987 were California, $5.7 billion; Texas, $3.7 billion; Iowa, $2.8 billion; Florida, $2.3 billion; and Nebraska, $2.1 billion. Net farm income reflects cash income minus cash expenses plus adjustments for noncash and operator dwelling income and expenses. Cattle and calves and dairy products were the top commodities in cash receipts. Texas led cattle and calf receipts with $4.6 billion, and Wisconsin topped dairy sales with $3 billion. Iowa ranked first in hog sales with $2.7 billion. Illinois led the sales for both soybeans and corn, the fourth- and fifth-ranked commodities at $1.7 billion and $1.9 billion, respectively.