Farm Facts: Farm Economics
Recent data released by the U.S. Department of Agriculture shows concerning numbers for U.S. farmers:
- USDA estimates the projected net farm income at $62.3 billion for 2017, the lowest since 2002.
- Net farm income (n): the return to farm operators for their labor, management and capital after all production expenses have been paid.
- Crop Receipts: $231.6 billion in 2012, $186.7 billion in 2017 (projected)
- Projected 2017 farm debt: $395 million, the highest since 2002 and a 5.2 increase over the previous year.
Source: USDA Economic Research Service