OCR Text |
Show Farm Cash Income From Milk Records New Three -Year High IjjJI I $1,396,000,000 $1,355,000,000 $1,502,000.000 NEW YORK Farm cash income from milk for 1940 totaled J1.602,-000,000 J1.602,-000,000 an increase of $147,000,000 or 10.87 per cent over the 1939 total and the largest since 1937, according to a Milk Industry Foundation Foun-dation report. Figures for 1940 show the importance im-portance of milk as a mainstay of farm purchasing power, the report says. The Increase is. also impressive impres-sive as milk is a cash crop paid for monthly and not at the end of the season as in the case of most crops. Milk cash is widely used tor current farm purchases and merchandise. mer-chandise. While 1940 figures are not yet available for all individual farm products, it is indicated that milk Is again the largest single source of farm cash income. While cash Income from milk was up 10.87 per cent the income from all other farm products rose only 7.39 per cent during 1940. Milk production of 111 billion quarts was the largest on record. More significant, farm cash income in-come from milk for the year 1940 was 91.3 based on 1924-29 as 100. compared with 77.6 for t.vtnl farm Income. The milk figure for December, Decem-ber, 1940, was 104.5, while all farm Income was 84.0. This shows how farm income from rallk lias been relatively much better maintained than farm income from all other crops and commodities, contrasted with the latter half of the more prosperous 20's. For 1940 the Milk Industry Foundation monthly milk sales reports re-ports from 136 leading U. S. cities indicate increases in sales of fluid milk of 1.4 per cent over 1939. |