SHORTFALLS IN 1997 NET FARM INCOME IN NORTH DAKOTA (Prepared for Senators Byron Dorgan and Kent Conrad)

Abstract

North Dakota net farm income declined in 1997 due to adverse weather conditions and low prices. The total income loss in 1997 was estimated to be $394 million, which was divided into$290 million due to weather and diseases, and $104 million due to lower-than-average prices. Net farm income losses were largest in Region 3 (Northeast), followed by Regions 1 (Northwest) and 6 (East Central). HRS wheat accounted for the largest income loss, followed by durum and barley.Net farm income, crop losses, weather conditions, North Dakota input output model, Agricultural Finance,