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Study Show Drop In 2001 Farm Incomes

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Average farm operator returns for labor and management on 3,072 Illinois farms decreased significantly in 2001 compared to returns experienced by producers in 2000. The 2001 returns were the lowest since 1998 and the second lowest since 1991. Incomes declined despite good corn and soybean yields recorded by producers across most of the state. Lower soybean prices and higher costs were the major reasons for the decline in incomes. For the most part, livestock returns were good, which helped support incomes on farms producing livestock. Although lower rates paid for government Production Flexibility Contract and Market Loss Assistance payments contributed to the lower incomes, government farm program payments continue to be an important factor in supporting farm incomes.

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