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David Sparks Ph.d Farm Revenue
by David Sparks Ph.d, click here for bio

Program: Idaho Ag Today
Date: September 07, 2017

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USDA sees modest increase in farm revenue, but hard times persist

It’s been three long years of decline, but farm revenue is now expected to rise this year, slightly, according to a forecast released today by the USDA’s Economic Research Service.

Both net cash income and net farm income will be stronger than they were last year, bringing revenues close to the historical average, according to ERS economists. Net cash income for farmers is now forecast to reach $100 billion, about 13 percent more than farmers made last year, according to the report. Net farm income – similar to the cash indicator, but including money earned from selling older crop inventories – is projected at $63.4 billion, a 3 percent increase from 2016.

Much of the increase in the forecast is due to stronger cash receipts from meat, dairy, poultry and eggs, ERS said. Overall cash receipts are expected to rise by $14.1 billion (up 4 percent from 2016). The cash income includes $13.6 million more this year than producers will get for their hogs, cattle, chicken, milk and other animal products.

Cash receipts for crops are expected to remain mostly flat this year

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