With production down by 1 percent, gross income on 2012 U.S. cattle sales increased by 8 percent over those during 2011, according to USDA’s Meat Animals Production, Disposition, and Income 2012 Summary.
Cash receipts from marketings of cattle and calves also increased 8 percent from $63.0 billion in 2011 to $67.9 billion in 2012. The difference between gross income and cash receipts in this report is that gross income includes the value of home consumption, which was up 7 percent in 2012 versus 2011.
The report does not include estimates for net income, which likely increased at a slower pace due to higher production costs.
All cattle and calf marketings totaled 55.4 billion pounds in 2012, down 1 percent from 2011.
Hog production, at 33.3 billion pounds in 2012, was up 4 percent from 2011. The increase in hog production resulted in a total increase in meat-animal production of 1 percent.
View the full report from USDA.