Agricultural Income and Finance Situation and Outlook Report, June 1997

摘要

Net farm income in 1997 is forecast to approach $45 billion, above its 1990-95average of $43 billion, but down from the record $49 billion forecast for 1996. Lower corn receipts in 1997, due to declining prices as stocks rebuild from their mid-1990's lows, will have the largest downward influence from a year earlier. Beef cattle receipts will provide the greatest upward boost as a smaller beef herd and strong exports push up cattle prices. Livestock producers will benefit from lower feed expenses in 1997, partly because of lower corn prices. They will, however, have larger expenses for feeder animals as stronger cattle and hog markets drive up livestock prices.