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Diane Publishing Books
U.S. Farm Income
Randy Schnepf (au)
According to the U.S. Dept. of Agriculture (USDA), national net farm income äóî a key indicator of U.S. farm well-being äóî is forecast at $91.7 billion in 2012, down $6.5 billion (6.5%) from the record total of $98.1 billion achieved in 2011. Record revenues from crop markets (forecast up 0.7%, from 2011äó»s record level), coupled with continued strength in livestock markets (down 0.1% from 2011äó»s record), are expected to be offset a 4% ($12.5 billion) increase in input costs to account for the lower forecast for overall net returns. As this report shows, the major drivers behind a second year of strong farm income projections are the outlook for near-record U.S. agricultural exports of $132 billion in 2012, following record exports in 2011 (projected at a record $136.3 billion), and continued strong crop prices driven in part by sustained demand from the U.S. corn ethanol industry. Market prices for major program crops for the 2011/12 marketing year have remained near record levels, and sustain a positive earnings outlook for most commodities, but especially for corn, cotton, and soybeans. Contents of this report: Introduction; 2012 Farm Income Forecast 2nd Highest on Record; Long-Run Farm Income Projections to 2021; Farm Asset Values and Debt; Average Farm Household Income. Figures and tables. This is a print on demand report.
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