U.S. gross cash farm income is expected to increase in 2021 and 2022
Gross cash farm income (GCFI) is annual income before expenses. It is the sum of cash receipts, farm-related cash income, and Government direct farm program payments. GCFI is forecast at $510 billion in 2021 and $512 billion in 2022, versus $362 billion (inflation-adjusted 2022 dollars) in 2001, with the increase across time mainly due to higher cash receipts. GCFI in 2021 is forecast to increase 6.6 percent relative to 2020 (reaching the highest level since 2014), and it is forecast to grow another 0.4 percent in 2022.
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