44-Percent of Farms Have Positive Cash Income

(WASHINGTON, DC) USDA recently released the 2017 Census of Agriculture. Some interesting findings from the report come from the financial side of the survey. Farm expenses are $326 billion with feed, livestock purchased, hired labor, fertilizer and cash rents topping the list of farm expenses in 2017. Average farm income is $43,053 and a total of 43.6 percent of farms had positive net cash farm income in 2017. Ninety-six percent of farms and ranches are family owned. Farms with Internet access rose from just under 70 percent in 2012 to more than 75 percent. Finally, more than 133-thousand farms and ranches use renewable energy producing systems, more than double the amount five years earlier.