The fall in grain inventories affected seasonal debt, which also fell four percent. Farm supply inventories increased while grains and oilseeds inventories decreased. Total liabilities rose four percent from the previous year. Both long-term debt and owner equities increased. Owner equities financed 56 percent of total assets.
Several ratios measure the operational impact and performance levels of cooperative operations.
From 1997 to 1998, these two ratios changed slightly. Elements of both ratios included current assets, current liabilities, and inventory. Current assets and liabilities were up slightly, while total inventories were down. Total inventories included farm supply, which was up at 6.6 percent and grain, which was down at 5.1 percent. The gain from current assets and liabilities and the loss from total inventories almost cancelled out each other.