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In United States agricultural policy, gross farm income refers to the monetary and non-monetary income received by farm operators. Its main components include cash receipts from the sale of farm products, government payments, other farm income (such as income from custom work), value of food and fuel produced and consumed on the same farm, rental value of farm dwellings, and change in value of ...
Gross farm income is the same as gross cash income with the addition of nonmoney income, such as the value of home consumption of self-produced food and the imputed gross rental value of farm dwellings. Net cash income is gross cash income less all cash expenses such as for feed, seed, fertilizer, property taxes, interest on debt, wages to ...
As of the 2017 census of agriculture, there were 2.04 million farms, covering an area of 900 million acres (1,400,000 sq mi), an average of 441 acres (178 hectares) per farm. [ 2 ] Agriculture in the United States is highly mechanized, with an average of only one farmer or farm laborer required per square kilometer of farmland for agricultural ...
The farmers left standing earned more income with the average Minnesota farm in 2022 reporting $141,869 in net cash income — more than double 2017 levels ($65,753). Still, the cost in expenses ...
The average Oregon farm is worth $1.5 million — 30% more than it was in 2017 and double the average increase nationwide. However, the average farm income was a bit over $26,000 in 2022.
For instance, in 2006, the Department of Agriculture estimated that the average farm household income was $77,654 or about 17% higher than the average US household income. [91] From a public economics perspective, subsidies of any kind work to create a socially and politically acceptable equilibrium that is not necessarily Pareto efficient .
Small family farms in which the principal operator was mostly employed off-farm accounted for 42 percent of all farms and 15 percent of total US farm area; median net farm income was $788. Retirement family farms were small farms accounting for 16 percent of all farms and 7 percent of total US farm area; median net farm income was $5,002.
Egg production peaks in the early spring, when farm expenses are high and income is low. On many farms, the flock was the most important source of income, though this was often not appreciated by the farmers, since the money arrived in many small payments. Eggs were a farm operation where even small children could make a valuable contribution. [23]
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