U.S. farm income to plunge 38 percent in 2009: USDA By Christopher Doering Thu Aug 27, 1:16 pm ET WASHINGTON (Reuters) – U.S. farm income this year was forecast to plunge 38 percent to $54 billion due to lower commodity prices for crops and livestock, the Agriculture Department said on Thursday. Grain and livestock prices falling from record highs set in 2008 means farmers will see earnings slump by $33.2 billion in 2009 from last year's near record net farm income of $87.2 billion. The 2009 forecast was $9 billion below the 10-year average of $63.2 billion in net farm...