U.S. gross cash farm income forecast to decrease in 2023

U.S. gross cash farm income components, inflation adjusted, 2002–2023F

Gross cash farm income (GCFI) is annual income before expenses and includes cash receipts, farm-related income, and Government farm program payments. In inflation-adjusted 2023 dollars, GCFI is forecast at $580.3 billion in 2023, versus $357.5 billion in 2002, with the increase across time primarily due to higher cash receipts. If forecasts are realized, GCFI would decrease by 7.2 percent in 2023 relative to 2022.

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