Livestock Income Rises

July 15, 2004 -- U.S. farmers and ranchers experienced an average increase of 17 percent in income from cattle, pigs and sheep sales in 2003, reports the U.S. Department of Agriculture's National Agricultural Statistics Service (NASS).

The 2003 U.S. gross livestock income totaled $56.6 billion, up 17 percent from 2002. Although gross income increased for all livestock, the magnitude varied: Income from sheep and lambs was up 18 percent, as was that for cattle and calves, while income from hogs and pigs increased 11 percent.

According to NASS, cash receipts from marketing of sheep and lambs in 2003 were $505 million, up 18 percent from 2002, although sales decreased 7 percent to 607 million lbs. The U.S. annual average price per 100 lbs. live weight for sheep increased from $28.20 in 2002 to $34.90 in 2003, while the annual average price for lambs increased from $74.10 to $94.40, an increase of $20.30.

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