• U.S.

Business: Cash Crops

2 minute read

On U. S. farms the last bushel of wheat had been threshed, the last shock of corn stacked, the last apple picked, the last potato dug last week when the Department of Agriculture issued its final estimates of the 1934 harvest. Production of field crops was 32% below the average for the past ten years but prices were up 42% from last year, 140% from 1932. Farm value of field crops was $4,800,000,000 as against $4,100,000,000 last year, $2,900,000,000 in 1932.

Hardest hit by Drought were corn and oats—both the shortest crops since 1881. Two years ago the corn crop was 2,900,000,000 bu., worth $560,000,000 at a farm price of less than 20¢ per bu. This year the harvest was only 1,380,000,000 bu. At an average price of 78¢ per bu. it was valued at more than $1,000,000,000. The oat crop was less than one-half that of 1932 but the farm price had jumped from 13¢ to 52¢ per bu. and total value increased in two years from $167,000,000 to $272,000,000. Value of other crops:

1934 1933 (000 omitted) Cotton $602,000 $611,000 Wheat 432,000 359,000 Barley 91,000 63,000 Tame Hay 724,000 536,000 Tobacco 240,000 179,000 Potatoes 160,000 223,000

Not included in the crop estimates were livestock products with a 1934 value of about $1,400,000,000 or poultry & dairy products with a value of about $2,300,000,000. Nor did the report include AAA cash benefits which this year will foot up to $518,000,000.

Since many a field crop like corn and hay is converted into pork or milk before being marketed, the Department of Agriculture’s figures did not represent actual 1934 farm income. That figure has been estimated at $6,000,000,000—up $1,000,000,000 from 1933.

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