Net Farm Income to See Second Largest Increase in 35 Years

Net farm income for 2011 is expected to jump to $94.7 billion, up $15.7 billion from 2010, according to a report by the USDA. Despite a $20 billion hike in production costs, the 2011 forecast is the second highest inflation-adjusted value for net farm income recorded in 35 years. Average farm household income also is expected to go up by 4 percent to $86,352. Review the report.