In a report released last week from the Economic Research Services, net farm income is forecast to be $71.2 billion in 2009, down $18.1 billion (20 percent) from the preliminary estimate of $89.3 billion for 2008. Still, $71.2 billion would be 9 percent above the average of $65 billion earned in the previous 10 years.
Net cash income, at $77.3 billion, is forecast down $16.1 billion (17 percent) from 2008 but still 7.6 percent above its 10-year average of $71.8 billion. Net cash income is projected to decline less than net farm income primarily because it reflects the sale of $1.8 billion in carryover stocks from 2008. Net farm income reflects only the earnings from production that occurred in the current year.
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