Posted by: Lawyer Sanders | December 1, 2008

Environmental lawyer Sanders says farm income is projected to rise in 2008 according to USDA.

According the U.S. Department of Agriculture, the net farm income in our country will be $86.9 billion in 2008.  That amount is up from a record $86.8 billion that farmers were estimated to have earned in 2007.  It is also 42 percent above the 10-year average of $61.1 billion.  

 

Net cash income, at $90.7 billion, is forecast to be $3.3 billion (4 percent) above 2007 and 33 percent above its 10-year average of $68 billion. Net cash income is projected to be more than net farm income because of a carryover of 2007 crops, which are being sold in 2008 rather than in 2007.   No word yet on the status of Kentucky’s number 1 cash crop.

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