Prices Up, Production Down, Cash Receipts Up and Down

Since 2012, when there was a record high in gross income for farmers, called cash receipts by the USDA, this annual measurement of the health of US farms has been in decline.

The average decline overall for 2014 is expected to be 7 percent. Despite record high corn production figures are predicting over 20 percent decline in cash receipts due to a tumbling by 32 percent of the average price of corn.

The price of beef is having the opposite experience. Livestock prices have hit record highs, fueling a 15 percent increase in cash receipts for this commodity. Cash receipts for cattle and calves are expected to set records in 2014 despite declines in production; the increase caused by higher prices.

Pork production has also fallen, however increased prices are also stimulating predicted advances in pork cash receipts.

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