Date of this Version
Fueled by large value increases of both crop and livestock production, Nebraska’s net farm income surged in 2003 to $3.233 billion. Based on recently-released state estimates by Economic Research Service, USDA, this 2003 aggregate income level was the second largest on record for Nebraska; and was within only $150 million of surpassing the historical high-income year of 1996 (Table 1). Nebraska’s 2003 net farm income level was about 1.8 times its average of the preceding 10 years. This level for 2003 placed Nebraska third among the 50 states (only California with $8.4 billion and Texas with $5.9 billion had higher farm earnings for the year).