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U.S. gross cash farm income to decline in 2024

by Kathleen Kassel
12/3/2024

Farm Sector Income & Finances

A stacked area chart shows the components of U.S. gross cash farm income: crop cash receipts, animal and animal product cash receipts, farm-related cash income, and Governemt direct farm program payments, inflation adjusted, for 2004 to 2024F

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Gross cash farm income (GCFI) is annual income before expenses and includes cash receipts from the sale of crops and animal/animal products, cash farm-related income, and Government farm program payments. In inflation-adjusted 2024 dollars, GCFI is forecast at $578.7 billion in 2024, versus $422.2 billion in 2004, with the increase across time primarily due to higher cash receipts. If forecasts are realized, GCFI would decrease by 3.7 percent in 2024 relative to 2023.

U.S. gross cash farm income to decline in 2024

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