Net farm cash income is expected to rise more than 23% to $85.3 billion — the second highest on record and above its previous 10-year average.
Two recent USDA reports show the strength of the overall rural economy and growth in agricultural exports. USDA Secretary Tom Vilsack had the following to say:
“The reports are encouraging news. They show that while American agriculture has struggled through difficult economic times, the 2008 farm bill, the efforts of the Obama administration — such as the Recovery Act — and the hard work and resilience of America’s farmers and ranchers have helped put American agriculture on the road to recovery.
“After declining more than 20% in 2009, all three measures of farm-sector earnings experienced a rapid rebound and are forecast to rise in 2010.”
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