Farm incomes to reach record
levels despite low crop yields
September 1, 2011
By Jennifer Stewart
High worldwide grain demand coupled with lower-than-expected yields means U.S. farmers can look forward to a record-high farm income total from the 2011 crop, according to a new U.S. Department of Agriculture report.
In the Farm Sector Income Forecast released Tuesday (Aug. 30), USDA's Economic Research Service projected the total U.S. farm income will reach $103.6 billion, up 31 percent from last year's total. The previous farm income record was $84.7 billion in 2004.