USA - U.S. farm exports hit record; net farm income leads 'sustainable recovery'
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02-Dec-2010 (15 years 6 months 7 days ago)Agriculture Secretary Tom Vilsack said this morning that agriculture is “leading this country’s recovery” with all three key measures of farm earnings showing a “rapid rebound.” He also praised a USDA forecast that U.S. exports are on course to set a record of $126.5 billion in fiscal 2011.
The Economic Research Service predicted earnings for the farm sector would: 1) see a 34% increase in net cash income compared to 2009 (net cash income includes only cash receipts and expenses); 2) see net value-added up $20 billion from 2009 to total $132 billion; 3) see the rebounding net farm income come within $5.9 billion of the all-time record in 2004.
The Economic Research Service predicted earnings for the farm sector would: 1) see a 34% increase in net cash income compared to 2009 (net cash income includes only cash receipts and expenses); 2) see net value-added up $20 billion from 2009 to total $132 billion; 3) see the rebounding net farm income come within $5.9 billion of the all-time record in 2004.