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USDA ERS projects farm income decline

USDA LogoThe USDA projects Farm Income to fall for 2016, the third decline in the last three years. The Economic Research Service forecasts net cash farm income at just over $94 Billion dollars, down 13% from the 2015 estimate.

Net farm income is estimated at $71 Billion dollars, down more than 11%. That would make it the lowest since 2009, if realized.

Production expenses, however, are down for the second straight year, by nearly three-percent over 2015. The biggest declines are in feed, livestock, poultry, seed and fuel.

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