USDA Forecasts Record Net Farm Income
December 2, 2011
The USDA’s Economic Research Service (ERS) is forecasting U.S. net farm income to total $100.9 billion in 2011, 29% higher than in 2010. NMPF estimates from ERS data that, among dairy farms, net farm income is projected to rise 58%, to $11.5 billion, up about $4.2 billion. Because cost, including feed, rose substantially in 2011, this rise in net income is only half of the projected $8 billion increase in milk and milk product sales, which are projected at a record $39.4 billion.
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