U.S. Net Farm Income Takes Dip
Chris Clayton DTN Ag Policy Editor
Tue Nov 27, 2012 02:27 PM CST

OMAHA (DTN) -- Revenue is up for farmers in 2012 for almost all sources of farm income, USDA reported Tuesday, but net farm income for the entire farming sector is down 3.3%, mainly due to high farm expenditures, particularly for livestock feed.

Buoyed by high crop-insurance payments, net farm income nationally is projected to be $114 billion in 2012 despite the widespread drought. The net farm income figure is down about $4 billion from 2011's record high farm income, according to USDA's Economic Research Service.

Feed expenses hit livestock and poultry producers hard, rising $9.7 billion in 2012, an 18% ...

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