Farm Income Expected to Decline But Remain Second Highest in History

U.S. farm income is expected to decline by nearly $4 billion from its all-time high in 2011, yet that number is still the second highest on record since the 1970’s, according to Agriculture Secretary Tom Vilsack. “Today’s forecast is heartening. It confirms that American farmers and ranchers remained impressively resilient in 2012, even with tough odds due to one of the worst droughts in more than a generation,” said Vilsack in response to the USDA 2012 Farm Income Forecast released today. “Thanks to its ability to remain competitive through thick and thin, U.S. agriculture is stronger today than at any time in our nation’s history, supporting and creating good-paying American jobs for millions.” Read Vilsack’s statement or review the farm income forecast.