Roosevelt Standard | 1950-06-15 | Page 3 | 1950 Farmer Net Income Likely to be Considerably Less than Last Year

,1950 Farmer Hot Income Likely To I Be Considerably Less Than Last Year With lower prices this year j and only a slight decline in costs, farmers' net income in 1950 is likely to be considerably less than the 13.8 billion dollars realized last year. Latest reports by the Department Depart-ment of Agricuture predict that farmers' cash receipts from marketings mar-ketings this year may total around 25 billion dollars, 'compared 'com-pared with 27.5 billion received last year. This drop will result primarily from lower average prices; farmers will sell more livestock this year but fewer crops. Total gross farm income will decline only a little less than cash receipts. Farm production costs will be almost as high in 1950 as in 1949. Expenditures for hired labor may decline about 5 per cent, with employment and wage rates both down slightly. Smaller amounts of fertilizer will probably be bought at slightly lower prices. Rents also are expected to decline. Practically Prac-tically all other cost items are likely to equal or exceed last year's.