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Overview

U.S. and State Farm Income and Wealth Statistics

These are the latest data concerning USDA’s forecasts and estimates of farm income, including net value added, net cash income, cash receipts, government payments, farm production expenses, and the balance sheet.

Forecasts are normally updated three times a year. The February release provides the first forecast for the current year and a revision of the prior year's forecast. The August release converts the prior year's farm income and balance sheet forecasts to estimates and adds State-level farm income estimates, revises previous years' estimates, and updates the current year's forecast. The November release updates the current year's forecast. Note that State and U.S. revisions for 2012 and final estimates for 2013 have been included in ERS’s farm income estimates in November 2014 instead of in August, due to the change in timing of specific National Agricultural Statistics Service (NASS) data releases and the 2012 Census of Agriculture.

Data are as of November 25, 2014. The next release will be February 10, 2015.

See:

Note: Estimates are subject to revision one year after their preliminary release. Revisions are made only when additional information becomes available that changes the summarization of survey results. Because USDA's National Agricultural Statistics Service estimates are a primary source of information to the accounts, revision in their estimates will be incorporated in our estimates when our preliminary estimates are finalized. Examples include revisions in official estimates of commodity production that are a result of a Census or other credible new information. Estimates may also be revised when administrative data are changed.

Last updated: Tuesday, November 25, 2014

For more information contact: Mitch Morehart