State Fairgrounds - P.O. Box 19281 - Springfield, IL 62794-9281 - 217/782-2172 - TDD 217/524-6858 - Fax 217/785-4505

Economic History

economic_growthPRICES RECEIVED BY ILLINOIS FARMERS*

Commodity 1950 1960 1970 1980 1990 1997
—Dollars—
Corn, bu. 1.59 1.00 1.37 3.14 2.36 2.70
Soybeans, bu. 2.49 2.23 2.90 7.62 5.85 6.55
Wheat, all, bu. 2.17 1.74 1.30 3.93 2.75 3.15
Oats, bu. .80 .61 .66 1.82 1.09 1.75
Hay all, baled,ton 21.30 19.50 24.50 55.50 70.00 103.00
Sorghum, bu. N/A .82 1.12 2.94 2.09 2.40
Beef Cattle, cwt. 24.60 22.10 27.50 62.30 75.70 64.50
Calves, cwt. 27.50 23.90 33.70 72.20 119.00 102.00
Hogs, cwt. 18.00 15.40 23.20 38.50 53.90 51.10
Lambs, cwt. 25.30 18.10 27.00 58.80 53.10 85.00
Milk cows, head N/A 207 303 1,200 1,150 1,110
Milk, all, cwt. 3.41 3.76 5.49 12.90 12.90 13.60
Turkeys, lb. .36 .26 .25 .48 .42 .41
Eggs, doz. .31 .29 .35 .53 .65 .62
Wool, lb. .52 .44 .33 .69 .35 .43

* Marketing year average prices for grains. Calendar year prices for livestock.
N/A-Not available


ILLINOIS CASH RECEIPTS FROM FARM MARKETINGS

Commodity 1960 1970 1980 1990 1997
—Million Dollars—
All Commodities 1,999 2,809 7,951 7,779 9,276
Crops 839 1,499 5,627 5,336 7,339
Livestock, Dairy and Poultry 1,160 1,310 2,324 2,444 1,937
Selected Commodities:
Corn 404 774 2,712 2,691 3,524
Soybeans 254 574 2,438 2,023 3,107
Hogs 418 592 1,036 1,206 1,011
Cattle 503 491 884 800 513
Dairy Products 149 153 324 326 311
Wheat 78 44 268 230 214
Fruits & Vegetables 32 38 74 87 90

Source: Economic Research Service, USDA


ILLINOIS AG SECTOR OUTPUT AND INCOME

Year Ag Sector
Output 1/
Net Value
Added 2/
Net Farm
Income 3/
— Million Dollars —
1950 1,927 1,017 734
1960 2,129 836 534
1970 2,908 1,104 630
1980 7,347 1,916 112
1990 8,462 3,811 1,508
1997 9,807 4,628 2,186
 1/ Gross value of the commodities and services produced.
2/ Contribution of the agricultural sector to the National economy.
3/ Farm operators’ share of income from the sector’s production.

Source: Economic Research Service, USDA


ILLINOIS FARM REAL ESTATE VALUES

Year Value
Per Acre
 Cropland Rent
Per Acre
Total Value of
Farmland &
Buildings
– Dollars –  – Million Dollars –
1950 174 N/A 5,521
1960 316 N/A 9,707
1970 490 36.40 14,455
1980 2,041 107.00 58,781
1990 1,405 99.40 39,902
1997 2,210 109.00 61,880

N/A–Not Available


VALUE OF ILLINOIS FARM EXPORTS

Commodity 1980 1990 1997 Illinois’
Rank
—Million Dollars—
All commodities 3,645 3,291 3,748 3
Feed grains 1,863 1,520 1,300 2
Soybeans 1,438 980 1,550 2
Wheat 166 255 151 13
Hides & skins 28 67 50 8
Fats, oils & greases 21 20 21 6
Live animals & meat 50 121 213 6
Feeds & fodders N/A 81 90 7
Seeds N/A 36 58 3
Vegetables N/A 22 32 18

N/A–Not available.
Source: Economic Research Service, USDA

Top