USDA Economic Research Service: Farm Income Data

• ers
• farm income
• data

What is the Economic Research Service?

ERS is a USDA research agency that produces data and analysis on the farm economy, food, rural America and agricultural trade. It does not run farm programs or take applications. Its role is to inform decisions by farmers, lenders, policymakers and researchers.

Its farm income work is among the most used, and it sits in the Farm Income and Wealth Statistics data product.

Be aware that national and state aggregates do not show the spread between farms. A lender who knows the average may still want to see how you compare to the top and bottom of the range in your area.

What does the farm income forecast measure?

ERS publishes forecasts and later revisions of farm sector income, including measures such as net farm income and net cash farm income. The pages describing the forecast explain how each is defined, so read those definitions before drawing conclusions.

These are sector-wide estimates, built from cash receipts, production expenses, government payments and other components. They are not a prediction of your farm's result.

Extension programs often publish benchmark studies built from real farm records, which can complement ERS data and show what well-run operations in your region look like. When you compare your farm to a published figure, write down the source and release date next to your own number so you can explain the comparison later to a lender or a partner.

Why do the numbers get revised?

ERS posts an update and revision history for its data, and forecasts change as new price, production and expense information arrives. A forecast issued early in the year may look quite different from later estimates.

Treat early numbers as a snapshot and look at the direction and the components. Did income move because of receipts, expenses, or government payments? That tells you more than the headline.

How can I use state and national data for my farm?

The data files include U.S. and state-level farm income and wealth statistics, and there are reports on cash receipts by state. Use them for context: are production expenses rising faster than receipts in your commodity and region? How do government payments compare with market income?

Then compare with your own records. If your costs are rising faster than the sector's, find out why.

Pay attention to the footnotes and definitions. Terms such as net farm income and net cash farm income sound similar but include different items, and a quick read of the definition page prevents confusing comparisons.

• Cash receipts by commodity and state
• Production expense categories
• Government payments as a share of income
• Farm household income and wealth reports

What does ERS say about farm households?

ERS has a farm household well-being topic with material on income and wealth in context. It shows that many farm households rely on off-farm income, and that averages can hide big differences between small and large operations.

That is a useful reminder when you read a national average. Your situation may sit well above or below it.

Look at the chart of income over a long span, not only the latest year. The long view makes a bad or good year easier to put in perspective, and it supports calmer decisions about borrowing and spending.

What are the limits of ERS data?

National and state averages cannot replace your own balance sheet, cash flow and cost of production. They cannot tell you whether to borrow, buy land or expand.

Use ERS as one input along with your extension economist, lender and accountant. For program decisions, go to the agencies that run them. Keep a note of the date each ERS release came out, because later revisions can change the story and you will want to know which version you relied on.

How do I use the data with a lender?

Lenders often track sector trends, so being able to explain how your farm compares helps. If national income is down but your costs per unit are lower than your region, say so and show the records that support it.

If your farm is under pressure and the sector is too, explain what you have changed. Lenders tend to respond well to a borrower who understands both the market and their own numbers.

Keep the ERS data as background and lead with your own financial statements, since the lender will lend to your farm and not to the average one.

Last reviewed: November 12, 2026. Written by the Farm Money & Grants Editorial Team. Educational only, not tax, legal or financial advice. See our editorial policy.