Farm income is the lowest since 2002. Here's why you should care

American farm income is projected to drop 3 percent this year and 56 percent from its 2013 high, to $54.8 billion, according to the U.S. Department of Agriculture. It would mark the third consecutive annual decline and the lowest level since 2002.  But why should the average American care? Slumping income not only hurts farm operations, but it also hinders a range of businesses that cater to or feed off farm country, from equipment manufacturers to sellers of seed and fertilizer to small-town shops that need gainfully employed agriculture workers to spend and drive local economic activity.