Source: FARM DOC DAILY, UNIV. OF ILLINOIS, 8/25/17


Net farm income is one of the USDA's most cited statistics. USDA's measure of net farm income plays an important role in the design, implementation, and evaluation of agricultural policy. They are also used by farm input and machinery suppliers, agricultural lenders, and other farm-related industries to make business plans and projections. The USDA has produced annual estimates of net farm income since 1910. However, these official estimates are produced with a significant time lag, and as a result, the USDA has a long history of producing more timely forecasts of net farm income. This post examines the USDA's net farm income forecasts since 1975.

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