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2013’s Net Farm Income Expected to be Second Highest Since 1973

By Goosmann Law Team   |  3, September 2013
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September 3, 2013. Experts with the United States Department of Agriculture’s Economic Research Service are projecting net farm income in 2013 to be $120.6 billion, a 6% increase from 2012’s estimates. This estimate represents the second highest inflation adjusted net farm income since 1973, with only 2011’s inflation-adjusted income being higher. The most substantial driver of the high projected farm incomes are the expectations of record crop production.

For a comprehensive break down of the various statistics related to numerous areas of agricultural production see the USDA Economic Research Service Services’ 2013 Farm Sector Income Forecast.

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