In its 2013 Farm Income Sector Forecast, the Department of Agriculture forecasts that while net farm income is expected to rise 6 percent to $120.6 billion, the median farm income will fall from a deficit of $1,435 in 2012 to a deficit of $2,300 for this year.
The USDA said farm households “will make up the balance by taking nonfarm jobs,” with the median off-farm income “projected to increase by 1.8 percent in 2013, to $60,659.” However, USDA also projects farm asset values will increase, exceeding debt and debt-to-asset and debt-to-equity ratios “at historic lows.”
Source: Electric Co-op Today
