|USDA chart; click the image to enlarge it.|
- Net farm income, a broad measure of profits, is predicted to hit $113.7 billion in 2022, down from $119.1 billion in 2021 in inflation-adjusted dollars. If the projection holds true, net farm income would be 15.2% above its 2001-2020 average of $98.7 billion in inflation-adjusted dollars.
- Net cash farm income, a more precise measure of profits, is projected to hit $136.1 billion, a $2.9 billion (2.1%) decrease from 2021. If the projection holds true, net-cash farm income in 2022 would be 13.6% above its 2001-2020 average of $119.8 billion.
- Cash receipts from commodities sales are forecast to increase by $29.3 billion (6.8%) from 2021 to $461.9 billion.
- Total crop receipts are expected to increase by $12 billion (5.1% from 2021 because of higher receipts for soybeans, corn, cotton, and wheat.
- Total receipts for animals and animal products are predicted to increase by $17.4 billion (8.9%) from 2021 because of higher receipts for milk, broilers, cattle and calves.
- Total cash receipts are expected to increase, but lower direct government payments and higher production expenses are predicted to counteract their net effects.
- Total farm household income is predicted to remain relatively flat, increasing 2.2% in inflation-adjusted dollars from $83,311 in 2021 to $88,234 in 2022.