Post by Josh on Feb 15, 2005 2:36:38 GMT -5
USDA has released their Farm Sector and Household Income Forecast for 2005.
www.ers.usda.gov/briefing/farmincome/
They expect 2005 earnings by U.S. farmers to be about $64.4 billion, down from 2004 but still the second highest on record.
USDA says 2004 was an exceptional year for U.S agriculture. Net farm income, net cash income, etc. all registered historic highs.
Net farm income was up 24 percent.
Value of production, up 12 percent.
Net value added, up 16 percent.
Net cash income, up 13 percent.
In 2004:
The farming sector contributed a record $118 billion to the U.S. economy, and net farm income was a record $73.6 billion.
Higher prices for animals and dairy were the main reasons for the $16.8-billion rise in livestock receipts over 2003.
www.ers.usda.gov/briefing/farmincome/
They expect 2005 earnings by U.S. farmers to be about $64.4 billion, down from 2004 but still the second highest on record.
USDA says 2004 was an exceptional year for U.S agriculture. Net farm income, net cash income, etc. all registered historic highs.
Net farm income was up 24 percent.
Value of production, up 12 percent.
Net value added, up 16 percent.
Net cash income, up 13 percent.
In 2004:
The farming sector contributed a record $118 billion to the U.S. economy, and net farm income was a record $73.6 billion.
Higher prices for animals and dairy were the main reasons for the $16.8-billion rise in livestock receipts over 2003.