08-31-2011 07:40 AM
USDA ERS posted figures that show a 24% increase in income over last year, according to a University of Illinois blog.
Net farm income will be more than $100 billion, up by more than $32 billion with the help of higher receipts from both grain and livestock markets. Farm expenses will be higher, and will exceed $300 billion for the first time ever. Both quantity and costs increases for inputs."
The story lists all the income and expense increases. Nothing too surprising. This kind of info will be useful to those who oppose farm subsidies.