American farms reported record cash receipts of $555 billion from the sales of all commodities in 2022. This beat the previous high from 2014 by 3.1 percent after adjusting both amounts for inflation and was 28 percent above the 20-year average level.
The 2022 record cash receipts primarily resulted from the strength of 2022 commodity prices, although production levels in 2022 were also strong. Cash receipts from crops amounted to $288 billion, while receipts from all animals and animal products totaled $267 billion. Operations selling meat animals like cattle, calves, and hogs, reported $121 billion in cash receipts in 2022, 18 percent higher than the 20-year average.
Farm operations with feed crops (primarily corn) reported $105 billion in cash sales, 53 percent higher than the 20-year average. Poultry and egg receipts were $80 billion, 67 percent higher than the average. Oilseed crop receipts were $68 billion, 54 percent higher than the average.