Net farm income reflects income from production in the current year, whether or not sold within the calendar year, and is a measure of the increase in wealth from production. Net farm income is forecast at $103.6 billion for 2011, up $24.5 billion, an increase of 31% from 2010. The 2011 forecast of net farm income is the highest inflation-adjusted value recorded since 1973. Net value added represents the total value of the farm sector’s…
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