Net farm income is forecast at $100.9 billion for 2011, up $21.8 billion (28 percent) from 2010. Net farm income reflects income from production in the current year, whether or not sold within the calendar year.
Net cash income, at $109.8 billion, is forecast up $17.5 billion (18.9 percent) from 2010, and $34.2 billion above its 10-year average (2001-2010) of $75.6 billion. Net cash income reflects only the cash transactions occurring within the calendar year.
Net farm income and net cash income are both projected to exceed $100 billion for the first time in 2011. However, the rates of increase in both income measures show slight decreases from the previous year. The 2011 inflation-adjusted forecasts of net value added of agriculture to the U.S. economy and net cash income are the highest values recorded since 1974.
Hog producers are expected to benefit from strong demand for U.S. pork products, especially from Japan and China. Livestock and poultry purchases are forecast to be up $3.5 billion (18.0 percent) in 2011. Pork production should be up 1 percent in 2011 and prices for hog feeders are forecast to increase 17 percent.
Tuesday November 29, 2011/ ERS-USDA/ United States.