Farm sector profitability is forecast down for the third straight year. Net farm income is forecast to be $66.9 billion in 2016, down 17.2 percent from the 2015 estimate. The median income of farm households is forecast to remain essentially unchanged in 2016, at $76,839.
New from ERS
The food system accounts for a large share of U.S. fossil fuel consumption, and energy accounts for a substantial and highly variable share of food costs. Events affecting one market may have spillover effects in the other.
Comprehensive data from USDA’s National Household Food Acquisition and Purchase Survey are now available to the public. The survey includes nationally representative data from nearly 5,000 households, including those participating in SNAP.
Across three proximity measures, supermarket access improved from 2010 to 2015 though income measures did not, resulting in more low-income, low-access census tracts. Over the same period, vehicle availability for households decreased
China has become the leading importer of pork, as production costs have risen. A comparison of U.S.-China farm data reveals that U.S. efficiency in feed costs and pork production provides an advantage in the China market.
Markets do not currently exist for large-scale use of renewable feedstocks for bioelectricity. ERS examines three policy scenarios that could create a market for bioelectricity using dedicated energy crops, such as switchgrass.