Dairy Week In Review

Recent data released by the USDA’s Economic Research Service shows US farm profitability increasing 25 percent in 2021 to an estimated $119.1 billion, with higher cash receipts in 2021  offsetting the high government payments received in 2020. Farm profitability levels, or net farm income, is expected to decline 4.5 percent in 2022 due to increased expenses. On dairy farms, cash  receipts in 2021 were up 3.5 percent to nearly $42 million, but net farm income fell on a per-farm basis by more than 25 percent to an estimated average of $242,100 in 2021. Lower milk sales receipts and government payments contributed most to the decline. Read More