Flat Farming

farmingIn 2006, US net farm income was $57.7 billion. It then rose in five of the next seven years, peaking in 2013 at $123.7 billion. Since then, farm income has steadily declined, falling to $68.5 billion in 2016 and is expected to shrink to just $62.3 billion in 2017, which, inflation-adjusted, will be the lowest level since 2002. Crop receipts are forecast to be $186.7 billion; livestock receipts, $168.2 billion.

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