USDA has issued its initial forecast for 2012 U.S. net farm income and expects it to come in at $91.7 billion, a drop of 6.5% from its revised 2011 forecast of $98.1 billion. It was $100.9 billion earlier.
“While down year-over-year, farm income is forecast to remain 28% above the prior 10 year average of $71.5 billion,” says Henry Kirn, analyst for UBS. “Although gross farm income is forecast to rise by $6.2 billion in…
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