Net farm income forecast second-highest in 35 years | TSLN.com
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Net farm income forecast second-highest in 35 years

Despite a $20 billion boost in production expenses, U.S. net farm income this year is predicted to be $94.7 billion, up almost $16 billion from the 2010 forecast, USDA’s Economic Research Service announced last week. That 2011 forecast is the second-highest – adjusted for inflation – value for net farm income in the past 35 years. Cash income is expected to increase 9.1 percent, with income for cotton, wheat, soybeans and corn showing the biggest gains.

This year, average family farm household income is forecast to be up 4.0 percent over 2010 to $86,352. Both farm and off-farm income are forecast to be up in 2010 and 2011, compared to the previous years and compared to the 5-year average for 2005-09. In 2011, 12.9 percent of the income of farm families is expected to be from farm sources, with the rest from off-farm income. Farm income is forecast to average $11,174 in 2011. Average off-farm income is forecast to be $75,178.

Despite a $20 billion boost in production expenses, U.S. net farm income this year is predicted to be $94.7 billion, up almost $16 billion from the 2010 forecast, USDA’s Economic Research Service announced last week. That 2011 forecast is the second-highest – adjusted for inflation – value for net farm income in the past 35 years. Cash income is expected to increase 9.1 percent, with income for cotton, wheat, soybeans and corn showing the biggest gains.



This year, average family farm household income is forecast to be up 4.0 percent over 2010 to $86,352. Both farm and off-farm income are forecast to be up in 2010 and 2011, compared to the previous years and compared to the 5-year average for 2005-09. In 2011, 12.9 percent of the income of farm families is expected to be from farm sources, with the rest from off-farm income. Farm income is forecast to average $11,174 in 2011. Average off-farm income is forecast to be $75,178.


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