| Show Farm Earnings 1 Reach New Peak 1947 Total Income Higher Than Any Similar Period In Country's History f fV WASHINGTON V Trends WASHINGTON Trends so far in 1947 indicate the year may bring the highest annual farm earnings in history according to officials who worked on the reports They say the American farmer is taking in more money than ever before despite mounting production costs In a survey prepared by the de- de department department department of agriculture it was esti- esti estimated estimated estimated mated that total cash receipts for farmers during the first eight months of 1947 reached billion dollars dollars dollars-a a 21 per cent gain over over the same period of 1946 a record year Great Gross Income Between January 1 and the end of August the report showed agriculture agriculture agriculture ture as an industry had a greater gross income than in any corresponding corre- corre corresponding spending period in history But the higher income is not all clear gain for the farmer the report added His operating costs are con- con continuing continuing continuing to increase In 1946 the th ex ex- expenses expenses expenses of operating farms went up 9 per cent No estimate was made for 1947 expenses The average farm operator realized real- real realized realized a net income of 2541 from agriculture and government pay- pay payments payments payments ments in 1940 1946 after the payment of taxes and other expenses the re re- report report report port said This was 19 per cent more than in 1915 The farm payments program ex ex- expired expired expired June 30 this year Farmer income skyrocketed this year because of continuing unprecedented unprecedented unprecedented dented demands for his products the report t showed Eating More lore Meat The American consumer for in in- instance in- in instance instance stance is eating more meat per capita than he has since 1911 Also he has more money Most of the farmers' farmers income gain the report observed could be at at- attributed attributed attributed to an nn increase of 24 per percent percent percent cent in prices One authority on livestock described de de- described described scribed the situation this way Consumers with more money than ever before are demanding more meat This has kept meat prices up Consequently livestock products which include meat meat prod products products products dairy and poultry accounted for billion dollars in farm in in- income income income come during the first eight months of 1947 an 1947 an increase e of 30 per cent over period i The Th e report said that wheat went into the market mar tet in unprecedented V I volume and at unusually lI li j I prices One authority said that the export demand was the primary factor in keeping wheat prices at top levels t this year I He said European grain fields were wrecked by the war and Eu Eu- Europe Europe Europe rope suffered from unfavorable I i growing conditions conditi i |
