Source: Chuck Abbott, SUCCESSFUL FARMING, 12/2/21


Despite the disruptions of the pandemic, U.S. farm income, a broad measure of profits, will be the highest since 2013, thanks to strong corn, soybean, wheat, broiler, cattle, and hog prices this year, said the USDA on Wednesday. “It is primarily a price story,” said USDA economist Carrie Litkowski. Corn, wheat, and soybean receipts would be 36% larger than last year, almost entirely because of higher market prices, said the USDA in its final income forecast of the year. Broiler chicken receipts were forecast to be up 49% from 2020, boosted by a recovery in prices.

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