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Briefing Rooms

Farm Income and Costs: Farm Business Income

Table 1--Farm business average net cash income, 2002-2008f 1/  
Size/
region/
specialty
2002
2003
2004
2005
2006
2007f
2008f
2007f/
2006f
2007f/
2002-
06
Avg.
2008f/
2007f
2008f/
2003-
07f
Avg.
Share
of
U.S.
farms
or busi-
ness-
es
01/28/2008
Dollars per farm
Percent
Farm size:
Commercial farms 129.7 159.4 219.0 206.6 167.6 210.4 225.3 25.5 19.2 7.1 17.0 10.5
Intermediate farms 8.2 12.5 11.5 14.9 9.9 12.8 15.4 29.3 12.3 20.3 25.0 26.7
All farm businesses 2/ 35.5 47.2 62.8 68.8 54.5 68.7 74.7 26.1 27.8 8.7 23.7 37.2
Rural residence farms -2.8 -2.3 -0.2 -1.2 -2.0 -2.4 -2.2 -20.0 41.2 8.3 35.8 62.8
All farms 12.1 16.3 24.5 24.4 19.0 24.1 26.4 26.8 25.1 9.5 21.9 100.0
All family farms 3/ 11.3 15.0 20.6 20.6 16.2 20.8 23.5 28.4 24.3 13.0 26.1 95.5
Resource region: 2/
Heartland 29.7 53.4 91.6 88.0 58.2 83.3 113.8 43.1 29.8 36.6 51.9 23.4
Northern Crescent 32.4 34.0 48.8 55.5 43.4 70.3 66.4 62.0 64.2 -5.5 31.7 13.9
Northern Great Plains 44.8 56.4 66.6 68.5 55.8 69.8 87.8 25.1 19.5 25.8 38.4 7.0
Prairie Gateway 25.0 41.1 53.1 68.6 37.0 42.3 47.6 14.3 -5.9 12.5 -1.7 14.2
Eastern Uplands 11.1 16.7 20.1 23.7 24.8 28.2 27.0 13.7 46.3 -4.3 18.9 11.8
Southern Seaboard 31.1 39.8 61.5 37.5 41.1 42.1 41.7 2.4 -0.2 -1.0 -6.1 9.6
Fruitful Rim 75.6 85.2 96.7 133.9 118.8 133.9 110.4 12.7 31.2 -17.6 -2.9 12.7
Basin and Range 45.0 46.7 23.8 61.1 44.5 52.5 51.1 18.0 18.7 -2.7 11.8 4.9
Mississippi Portal 49.7 64.0 62.2 49.0 61.3 62.9 87.9 2.6 9.9 39.7 46.8 2.6
Commodity specialization: 2/
Program crops--
Mixed grain 35.5 69.2 75.7 81.2 64.1 96.8 155.6 51.0 48.6 60.7 101.0 6.3
Wheat 31.1 36.3 36.6 52.7 41.3 67.3 111.2 63.0 69.9 65.2 137.4 2.5
Corn 40.5 56.2 93.5 95.5 66.8 101.4 165.0 51.8 43.8 62.7 99.6 9.1
Soybeans and peanuts 29.8 40.9 96.8 58.8 36.9 60.7 105.1 64.5 15.3 73.1 78.7 3.9
Cotton and rice 113.7 124.5 128.0 153.2 132.1 92.7 93.4 -29.8 -28.9 0.8 -25.9 1.8
Non-program crops--
Other field crops 20.4 35.0 26.1 31.7 22.4 23.4 28.2 4.5 -13.7 20.5 1.7 16.4
Specialty crops 101.7 106.2 106.5 134.2 159.5 154.8 139.9 -2.9 27.3 -9.6 5.8 8.3
Livestock--                        
Beef cattle 11.4 23.2 36.4 46.2 30.8 29.0 24.9 -5.8 -2.0 -14.1 -24.8 30.5
Hogs 69.6 158.3 226.5 187.0 203.7 219.3 189.2 7.7 29.7 -13.7 -4.9 1.5
Poultry 36.1 61.8 107.2 82.0 70.5 84.6 74.8 20.0 18.3 -11.6 -7.9 3.4
Dairy 74.1 64.3 142.3 129.5 97.6 213.1 161.6 118.3 109.8 -24.2 24.9 7.2
Other livestock -1.4 3.0 1.4 5.6 8.3 7.4 6.0 -10.8 118.9 -18.9 16.7 9.1
f = forecast.
1/The farm level forecasts are derived from partial budget modeling on the 2006 ARMS using parameters from the sector forecasts. The model is static and therefore does not account for changes in crop rotation, weather, and other local production impacts that occurred after the base year.
2/ Commercial and intermediate farms; including non-family farms.
3/ Excludes farms run by hired managers and operations organized as cooperatives, non-family corporations, estates, and trusts.

Download table as spreadsheet.

 

For more information, contact: Mitch Morehart or Roger Strickland

Web administration: webadmin@ers.usda.gov

Updated date: February 12, 2008