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Net farm income forecast up 10 percent
Net farm income is forecast to be $95.7 billion, 10.3 percent above the $86.8 billion farmers are estimated to have earned in 2007 and 57 percent above the 10-year average of $61.1 billion.
Net cash income, at $101.3 billion, is forecast to be $13.9 billion above 2007. This would be the first time that net cash income has exceeded $100 billion. Net cash income is projected to rise more than net farm income because of the carryover of 2007 crops, which are being sold in 2008.
The story for 2008...
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