Average Net Cash Farm Income for U.S. Farm Businesses is Forecast to Rise in 2026
Farm businesses are farms with annual gross cash farm income (GCFI), annual income before expenses, equal to or greater than $350,000, or operations with less than $350,000 in annual gross cash farm income but that report farming as the operator's primary occupation. Farm businesses account for about half of all U.S. farms but contribute more than 90 percent of the value of production and hold most of the sector’s assets and debt.
Average net cash farm income (NCFI) for farm businesses* is forecast at $121,700 for calendar year 2026, up 7.1 percent from 2025 in nominal terms. NCFI is cash receipts from farming as well as cash farm-related income, including Government payments, minus cash expenses. Higher NCFI could mean more cash available to pay debt, pay taxes, cover family living expenses, and invest. NCFI is not a comprehensive measure of profitability because it does not account for changes in noncash income, including adjustments in farm commodity inventories, accounts payable, accounts receivable, the imputed rental value of operator dwellings, and capital consumption.
The average NCFI outlook for 2026 is mixed across farming regions (see the FAQ on ERS resource regions) and for commodity specializations.** The farm business forecast uses information from the USDA’s 2025 Agricultural Resource Management Survey (ARMS) to allocate the changing financial conditions reflected in the 2026 forecasts for the farm sector across farm types and regions.
See data tables on farm business average net cash income:
- Farm-level average net cash income by farm typology and sales class
- Farm business average net cash income by commodity specialization and region
Average Net Cash Farm Income Forecast to Increase for Most Types of Farm Businesses Specializing in Crops but Decrease for Those Specializing in Animal and Animal/Products
In 2026, farm businesses across all crop commodity specializations are forecast to have an increase in average NCFI, except those specializing in specialty crops. Farm businesses specializing in wheat are expected to see the largest percentage increase (189 percent, or equivalent to an $81,900 per farm increase), and corn farm businesses are expected to see the largest dollar increase (equivalent to $96,000, or 46 percent) in average NCFI from 2025 to 2026.
| Farm specialization | Average NCFI, 2026F | Change in average NCFI, 2025–26F |
|---|---|---|
| Dollars (per farm) | Percent | |
| Cotton | 370,700 | 24 |
| Corn | 306,100 | 46 |
| Wheat | 125,300 | 189 |
| Soybeans | 112,000 | 44 |
| Specialty crops 1/ | 286,700 | -3 |
| Other crops | 89,000 | 21 |
| F = forecast. NCFI = net cash farm income. 1/ Specialty crops include fruit and tree nuts, vegetables, and nursery/greenhouse. Source: USDA, Economic Research Service, Farm Income and Wealth Statistics data product, Farm business average net cash income by commodity specialization and region. Data as of September 3, 2026. |
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For farm businesses across all animal/animal product specializations, average NCFI is forecast to decrease in 2026 relative to 2025. For those specializing in poultry/eggs, average NCFI is forecast to see the largest percentage (102.3 percent) and dollar decrease ($148,600) among animals/animal products specializations. This decrease is due largely to lower expected cash receipts in 2026.
| Farm specialization | Average NCFI, 2026F | Change in average NCFI, 2025–26F |
|---|---|---|
| Dollars (per farm) | Percent | |
| Dairy | 477,500 | -12 |
| Hogs | 395,800 | -10 |
| Poultry/eggs | -3,400 | -102 |
| Cattle/calves | 50,300 | 0 |
| F = forecast. NCFI = net cash farm income. Source: USDA, Economic Research Service, Farm Income and Wealth Statistics data product, Farm business average net cash income by commodity specialization and region. Data as of September 3, 2026. |
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Average Net Cash Farm Income (NCFI) for Farm Businesses is Forecast to Vary Across Regions in 2026
Farm business performance can differ considerably by region due to the heavy geographic concentration of production for certain commodities. Six of the nine USDA, ERS Farm Resource Regions are expected to see an increase in average net cash farm income in 2026 compared with 2025 in nominal dollars. Farm businesses in the Northern Great Plains are forecast to see the largest percentage (30 percent) and dollar ($50,700) increase per farm, with average NCFI projected at $217,000 in 2026. This expected increase is largely because of higher direct Government payments relative to 2025 levels.
*Farm businesses are defined as operations with gross cash farm income equal to or greater than $350,000 (labeled "commercial") or smaller operations where farming is reported as the operator's primary occupation (labeled "intermediate"). USDA Agricultural Resource Management Survey (ARMS) data for 2025 indicates that 13.7 percent of U.S. farms are commercial and 36.1 percent are intermediate. Residence farms make up the remaining 50.2 percent of operations; these are small farms with operators whose primary occupation is something other than farming.
**Commodity specialization is determined by a farm business having at least 50 percent of the value of production from a particular commodity. Farm businesses often produce multiple commodities, so average net cash farm income statistics should not be interpreted as resulting solely from the production and sale of the commodity highlighted as the specialization.
Suggested citation for linking to this discussion:
U.S. Department of Agriculture, Economic Research Service. (2026, September 3). Farm sector income & finances: Farm business income.