Farm Income to Decline in 2012, But Will Exceed 10-Year Average

The U.S. Department of Agriculture is projecting that farm income will fall in 2012; but will be above the 10-year average.

Net farm income is forecasted at $91.7 billion in 2012, down $6.3 billion or 6.5% from the 2011 forecast.

Net cash income, at $96.3 billion, is expected to fall by $12.5 billion (11.5%) from 2011 levels, but will remain $15.9 billion above the 10-year average (2002-2011) of $80.3 billion.

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