The U.S. saw growth of almost 31% in net farm income from 2021 through 2022.
NFI is a broad measure of farm sector profitability. Researchers with USDA’s Economic Research Service used data from the Farm Income and Wealth Statistics to classify states into six categories of NFI changes.
The five agricultural states with the highest NFI include Texas, which had the highest NFI growth at 65% from 2021 to 2022, followed by Minnesota at 55.7%.
Growth in the remaining top five states, including California, Iowa, and Illinois was also strong.
