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This is some interesting information we wanted to share with you all from Dr. Will Snell, University of Kentucky College of AG, AG Economic Specialist.
Earlier this week, USDA updated their 2013 farm income forecast. According to their latest estimate (Aug. 27, 2013), U.S. net farm income is projected to total $120.6 billion in 2013; which is up six percent from 2012 and topping the previous record high of $118 billion in 2011. After accounting for inflation, the 2013 net farm income level is forecast to be the second highest on record since 1973.
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