GOVERNMENT REPORT OFFERS SOBERING STATISTICS

ABOUT THE 2006 FARMER Last week, the U.S. Department of Agriculture's Economic Research Service issued updated estimates regarding 2006 farm income. Here are some quick statistics from the report:

* Net farm income is forecast to be $54.4 billion in 2006, down from 2005 by $19.4 billion (a 26% decline).

* Government payments are forecast to decline $6.2 billion.

* The average family farm will generate 86.7 percent of their income from off-farm sources in 2006. In other words, less than 14% of income is generated from the farm, itself.

Source: //www.ers.usda.gov/Features/farmincome/2006/August/


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