1、 https:/crsreports.congress.gov September 29, 2021U.S. Farm Income Outlook: September 2021 ForecastUSDA Projects Higher Farm Income in 2021 Two major indicators of U.S. farm sector financial well-being are net farm income and net cash farm income (see below for an explanation of these indicators). I
2、n its September 2021 forecast, the U.S. Department of Agriculture (USDA) Economic Research Service (ERS) anticipates both indicators will be higher for 2021 than 2020 (Table 1), and 2021 will be above historic long-run averages (Figure 1). ERS expects these increasesdriven by projections of higher a
3、gricultural commodity prices and earnings from sales in 2021 than in 2020to more than offset year-on-year decreases in government support and increases in farm expenses. In inflation-adjusted dollars, the 2021 net farm income projection of $113.0 billion, if realized, would be the highest since 2013
4、. Congress uses the ERS farm income forecast to inform deliberations regarding annual appropriations and farm bill programs. Figure 1. Farm Sector Inflation-Adjusted Income Measures, 1940-2021 Source: CRS using data from USDA, ERS, “2021 Farm Income Forecast,” September 2, 2021. Notes: 2021F = 2021
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