January 24, 2020

USDA Reports; Biofuels; Land Values; Stimulus; and Trade Issues

USDA Reports

In addition to the USDA reports that were highlighted in Friday’s update, the Economic Research Service (ERS) also released its latest U.S. farm household income forecast for 2009 late last week.

ERS stated that, “Average farm operator household income is forecast to be $85,140 in 2009, down from both the 2007 estimate ($86,223) and the 2008 preliminary estimate ($86,864). Average farm household income is estimated to have been 27.5 percent higher than U.S. average household income in 2007” [related graph available here].