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2013 farm income highest in U.S. in 40 years

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WASHINGTON — U.S. farm income will hit a 40-year high in 2013, driven by gains in livestock income, according to a new forecast from the U.S. Department of Agriculture on Tuesday.

USDA’s Economic Research Service estimated net farm income of $131 billion for 2013, up significantly from an earlier forecast of $120.6 billion and up 15 percent from $113.8 billion in 2012.

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