Gross incomes for both cattle and hog producers were up double digits from 2020 to 2021, according to a recent report from USDA’s National Agricultural Statistics Service (NASS).
For cattle and calves, cash receipts from marketings were 16% higher, rising from $63.1 billion in 2020 to $72.9 billion in 2021. All cattle and calf marketings totaled 61.4 billion pounds in 2021, up 4% from the previous year.
For hogs and pigs, cash receipts totaled $28 billion in 2021, up 46% over 2020’s $19.19 billion. Marketings, meanwhile, totaled 41.76 billion pounds, down 1% from 2020’s 41.92 billion pounds.
In total, cash receipts for cattle and hogs was $101 billion, up 23% over 2020. Total production of beef and pork was 85.9 billion pounds in 2021, down slightly from 2020
Altogether, cash receipts for the two protein types was $101 billion, up 23% over 2020; total production in 2021 was 85.9 billion pounds, down slightly from 2020.
NASS data only measures producer incomes, not producer profits. Feed prices rose significantly in 2021 and impacted profitability. For instance, corn prices averaged $5.40 per bushel during 2021, up 54% from the $3.50 average the previous year. USDA’s 2022 March corn price was $6.56 per bushel, the highest price since 2013.
