FRB: E.15 Release--C.7. Trends in Farm Income and Expenditures--Sept. 30, 2004

C.7. Local Trends in Farm Income and Expenditures as Reported by Banks in Each Region

Percent

Quarter	Farm income			Farm household spending			Farm capital spending
Quarter	Lower	Same	Higher	Lower	Same	Higher	Lower	Same	Higher
Ninth (Minneapolis) Federal Reserve District (MI, MN, MT, ND, SD, WI)
2002: Q2	58	41	2	19	68	12	49	46	5
Q3	58	33	9	34	60	6	55	41	4
Q4	48	22	30	27	56	17	46	37	17
2003: Q1	52	27	20	30	52	18	53	34	13
Q2	28	50	22	19	65	16	34	53	13
Q3	28	47	25	17	70	13	31	65	4
Q4	8	33	59	6	61	33	16	51	33
2004: Q1	7	25	68	5	52	43	8	41	51
Q2	2	37	61	2	55	42	5	49	46
Tenth (Kansas City) Federal Reserve District (CO, KS, MO, NE, NM, OK, WY)
2002: Q2	65	33	2	35	54	11	63	34	3
Q3	70	27	3	33	56	11	65	32	3
Q4	63	30	8	40	50	9	65	33	1
2003: Q1	72	24	5	44	48	8	68	30	2
Q2	36	47	17	27	60	13	46	48	6
Q3	22	46	32	18	68	15	36	49	14
Q4	17	35	48	10	64	25	20	54	26
2004: Q1	11	42	47	8	68	25	16	53	31
Q2	11	49	40	9	65	26	15	60	24
Twelfth (San Francisco) Federal Reserve District (AL, AZ, CA, HI, ID, NV, OR, UT, WA)
2002: Q2	65	33	2	35	54	11	63	34	3
Q3	70	27	3	33	56	11	65	32	3
Q4	63	30	8	40	50	9	65	33	1
2003: Q1	72	24	5	44	48	8	68	30	2
Q2	36	47	17	27	60	13	46	48	6
Q3	22	46	32	18	68	15	36	49	14
Q4	17	35	48	10	64	25	20	54	26
2004: Q1	11	42	47	8	68	25	16	53	31
Q2	11	49	40	9	65	26	15	60	24

   * State falls only partly within the indicated Reserve District.

   n.a. Not available.

   Source. Federal Reserve Bank quarterly surveys of agricultural credit
conditions at commercial banks.