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Net farm income to decline sharply in 2009

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WILLMAR -- According to the latest forecast from the U.S. Department of Agriculture, net farm income in 2009 is expected to total $57 billion in 2009, down $30 billion or 34.5 percent from 2008.

The 2009 net farm income forecast is also $6.5 billion below the previous 10-year average of $63.6 billion. However, the 2009 income level will still be the eighth largest on record, with the top five years all occurring between the years of 2003 and 2008.

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