Following years of decline, net farm income in 2017 for the U.S. farm sector as a whole is forecast to be relatively unchanged at $63.2 billion in inflation-adjusted terms. The figure is up about one half billion dollars, or .8 percent.
Meanwhile, inflation-adjusted U.S. net cash farm income is forecast to rise almost $2.0 billion, 2.1 percent, to $96.9 billion. However, both profitability measures remain below their 2000-2016 averages, which included substantial increases in crop and animal product cash receipts from 2010 to 2013.
Net cash farm income and net farm income are two conventional measures of farm sector profitability. Net cash farm income measures cash receipts from farming as well as cash farm-related income, including government payments, minus cash expenses. Net farm income is a more comprehensive measure that incorporates non-cash items, including changes in inventories, economic depreciation, and gross rental income.
From the National Association of Farm Broadcasting News Service.