U.S. and State-Level Farm Income and Wealth Statistics (Includes the U.S. Farm Income Forecast for 2014)
Errata: On December 12, 2014, the ERS farm income estimates for 2008-2013 and the 2014 forecast, released on November 26, were revised to correct coding and data input sourcing problems in the underlying farm income database. Revisions also incorporate new data that became available following the November 26 release. While changes to individual State level estimates may be larger, at the U.S. level, these corrections and data revisions increased 2013 net farm income by 2 percent, to $129 billion. Also affected were the value of year-end inventories and related measures in the balance sheet, as well as production expenses, total value of production, gross and net value added, the value of inventory change, and their respective crop components in the income statement. Net farm income forecast for 2014 increased 0.4 percent, to $97.3 billion.
These are the latest data concerning the farm income forecast, including the forecasts for the income statement for the U.S. farm sector, value added, cash receipts and value of production, government payments, farm production expenses, and the balance sheet. Included are historical U.S. and State-level farm income and wealth statistics. Historical/State data cover the topics of net value added and net farm income, net cash income, cash receipts and value of production, government payments, farm production expenses, and the balance sheet.
Data are normally added once a year and revised up to three times a year, in February, August and November. The August release converts the prior year's farm income and balance sheet forecasts to estimates and adds State-level farm income estimates.
Note that State and U.S. revisions for 2012 and final estimates for 2013 were made in December 2014 instead of in August, due to the change in timing of specific National Agricultural Statistics Service (NASS) data releases, the 2012 Census of Agriculture, and data coding and input sourcing problems identified in late November.
The data below are as of December 12, 2014. The next scheduled forecast release is February 10, 2015. These tables cover the full history of data through 2014F, where available.
Summary of the U.S. Farm Income Forecast
Farm Income Statements, U.S. and States
Farm Balance Sheet and Financial Ratios, U.S.
Farm Business Net Cash Income, U.S.
Archive of Suspended Tables
The estimation of State-level balance sheet and liquidity/efficiency and solvency/profitability ratios has been suspended. Data for 1960-2003 for all 50 States are included in a ZIP file.