Farm income varies greatly depending upon the type and size of farm. For example, vegetable and cotton farms generally produce the highest income. Beef and hog farms generate some of the lowest income. Large farms generally produce more income than smaller farms. However, some small farms that produce specialty crops have high incomes.
Farmers' incomes vary greatly from year to year. The prices of farm products change depending upon weather and other factors. These factors influence the quantity of farm products produced and the demand for those products. Farms that show a large profit in one year may show a loss in the following year.
Many farmers receive payments from the government that supplement their incomes. Some of these price supports are being phased out and may result in lower incomes for these farmers. Thus, many farmers have business activities away from the farm to supplement their income.
Farmers and self-employed farm managers must supply their own benefits. As members of farm organizations, they may receive group discounts on health and life insurance. Farm managers who are not self-employed may receive housing as a benefit. They may also receive paid vacations and health insurance.
|Du Page County||Hourly||$20.74||$23.31||$33.47|
|St. Louis-Belleville Area||Hourly||$17.24||$19.02||$30.07|