Preliminary cash receipts from 1995 marketings of Michigan crops, livestock and livestock products totaled nearly $3.55 billion. Total cash receipts were up 5 percent from the previous year, placing Michigan 19th nationally. Crop cash receipts rose 12 percent from 1994, to $2.23 billion. Sales of most crops increased with the major exceptions of tart cherries and dried beans. Livestock cash receipts, at $1.32 billion, were down 5 percent from a year ago. Decreased sales of beef and dairy products contributed most to the decline.

Preliminary U.S. data shows that total cash receipts were up 3 percent to $185.6 billion for 1995. Crop cash receipts increased 8 percent to $98.7 billion a new record high. Livestock declined 1 percent to $86.9 billion.

Michigan's 1995 gross farm income rose to $4.06 billion in 1995, up 5 percent from the previous year. Total production expenses were virtually unchanged from 1994, falling 1 percent to $3.6 billion.

The increase in income was led by cash crops, rising 10 percent from 1994's level to $2.2 billion in 1995. Leading the cash crops in 1995 was corn, which rose 26 percent to $412 million. Changes in expenses for feed, seed and fertilizer were minimal from 1994 but expenses for contract and hired labor fell 8 percent to $417 million in 1995.

Total 1994 farm debt in Michigan was $2.6 billion, almost 2 percent higher than in 1993. Total farm assets, at $16.6 billion, were up 4 percent from the previous year. The increase in farm assets was led primarily by higher real estate values, which grew to nearly $11.5 billion. The debt/asset ratio improved to 15.6 for 1994, down from 16.0 in 1993.

Government payments to farmers in Michigan climbed to $151 million in 1995, up from $102 million the previous year, but well below 1993. The rise is primarily due to increased payments for feed grain programs and other miscellaneous programs.

Table 2-2.-Farm balance sheet: Michigan
[Excludes operator households]
Item	1990	1991	1992	1993	1994
	Million dollars
Total farm assets	14,727.9	14,993.1	15,416.9	15,935.6	16,612.0
Real estate	9,866.2	10,025.8	10,142.7	10,717.2	11,480.8
Livestock and poultry 1	1,033.8	996.4	1,043.5	1,067.3	985.5
Machinery and motor vehicles 2	2,418.9	2,470.3	2,481.4	2,396.3	2,433.6
Crops 3	579.4	629.9	795.7	705.7	621.2
Financial assets	717.0	773.3	824.3	926.9	948.2
Total farm debt	2,628.7	2,572.0	2,612.2	2,548.1	2,590.8
Real estate debt	1,468.9	1,408.5	1,444.8	1,419.1	1,433.9
Non-real estate debt 4	1,159.9	1,163.6	1,167.4	1,129.0	1,156.9
Equity	12,099.2	12,421.1	12,804.7	13,387.5	14,021.2
Debt/assets ratio	17.8	17.2	16.9	16.0	15.6
1/ Excludes equine and broilers.
2/ Includes only farm share value for trucks and autos.
3/ All non-CCC crops held on farms plus the value above loan rate for crops held under CCC.
4/ Excludes debt for non-farm purposes.

Table 2-3.-Gross and net income: Michigan
Item	1991	1992	1993	1994	1995
	Million dollars
Gross farm income	3,772.8	3,664.4	3,944.6	3,876.9	4,059.4
Cash income
Crops	1,949.6	1,901.5	1,968.1	1,992.1	2,196.9
Livestock and products	1,287.7	1,309.6	1,371.0	1,389.2	1,323.9
Government payments	123.7	142.5	241.3	102.1	151.0
Farm-related income	136.6	108.5	123.8	118.7	106.4
Non-cash income
Value of home consumption	14.0	13.9	12.6	13 .8	14.1
Rental value of dwellings	182.1	179.9	201.6	239.1	243.9
Value of inventory adjustment	28.7	8.4	26.1	22.1	23.1
Total production expenses	3,264.4	3,239.5	3,446.5	3,646.3	3,599.8
Net farm income 1	457.9	425.1	498.1	230.7	459.5
1/ Includes farm operator dwellings located on farms.

Table 2-4.-Cash receipts by commodity groups and selected commodities, Michigan, 1991-95
Item	1991	1992	1993	1994	1995
	1,000 dollars
Livestock
Dairy	643,140	716,344	704,931	739,045	717,469
Cattle and calves	284,605	254,426	296,899	305,512	264,812
Hogs	216,234	198,281	206,320	184,630	185,320
Eggs	62,587	47,066	53,705	50,823	50,279
Sheep and lambs	3,956	4,101	3,916	4,115	5,379
All chickens	1,308	1,748	1,821	1,330	1,164
Honey	4,369	3,811	3,950	4,257	6,425
Aquaculture	2,410	2,410	2,986	2,315	1,854
Mink pelts	1,504	1,314	1,261	1,903	1,733
Other livestock	67,562	80,080	95,251	95,233	89,484
Total livestock	1,287,675	1,309,581	1,371,040	1,389,163	1,323,919
Crops
Field crops and vegetables:
Corn	407,864	331,399	353,974	328,079	412,020
Dry edible beans	86,818	95,336	110,021	146,141	129,666
Soybeans	268,351	288,045	302,083	304,825	337,511
Sugarbeets	98,031	112,767	113,808	113,890	111,672
Wheat	86,081	96,679	76,263	91,220	137,937
Potatoes	86,702	90,008	102,390	89,438	91,446
Hay	50,585	60,398	60,090	70,239	73,981
Oats	5,426	4,527	4,240	2,688	2,286
Mushrooms	18,012	15,645	14,927	14,213	14,085
Mint	1,750	1,404	1,260	897	1,254
Rye	393	455	422	425	506
Barley	2,481	2,481	2,658	2,430	2,251
Vegetables	178,722	186,544	205,169	191,404	203,865
Other crops 1	65,784	47,674	48,030	50,298	49,236
Fruit:
Apples	83,845	97,424	91,126	84,553	102,879
Blueberries		27,100	34,650	25,180	33,450
Cherries	66,987	52,808	43,327	49,133	29,148
Grapes	12,518	10,375	11,670	15,500	15,196
Peaches	8,652	8,631	10,260	3,400	12,594
Strawberries	6,430	7,727	7,637	6,300	6,296
Pears	1,363	1,299	1,240	1,255	1,400
Prunes and plums	2,449	2,364	1,710	993	1,866
Other fruit 2	44,480	1,510	1,555	1,190	1,765
Other products:
Greenhouse and nursery ornamentals.	365,833	358,933	369,574	398,385	424,632
Total crops	1,949,557	1,901,533	1,968,084	1,992,076	2,196,942
Total cash receipts	3,237,232	3,211,114	3,339,124	3,381,239	3,520,861
1/ Includes seed crops, forest products, maple syrup, Christmas trees and miscellaneous field crops.
2/ Includes apricots, brambles, nectarines, and blueberries for 1991.