Source: USDA ERS, 12/1/21


Farm Sector Profits Forecast to Increase in 2021
Net farm income, a broad measure of profits, is estimated to have increased by $15.7 billion (19.9 percent) in 2020 relative to 2019 and is forecast to increase by another $22.0 billion (23.2 percent) in 2021 relative to 2020. Forecast at $116.8 billion in 2021, net farm income would be at its highest level since 2013 and 24.2 percent above its 2000–20 average of $94.0 billion when prior years are adjusted for inflation. In inflation-adjusted 2021 dollars, net farm income is forecast to increase by $18.4 billion (18.7 percent) in 2021 from the previous year. 

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