Farm Income Expected To Increase This Year

According to the latest farm income forecast released by USDA Wednesday, net farm income is expected to be up compared to February’s numbers.

“Farm income will increase in 2025 relative to 2024, and this follows declining farm income in 2023 and 2024," said USDA research economist Carrie Litkowski. 

Litkowski said, net farm income is forecasted up $52 billion year-over-year, while net farm cash income is projected to increase over $4 billion for this year.

Livestock, Government Payments Expected To Push Income Higher

“Most of the expected increase in farm income is coming from higher cash receipts from the sale of animal and animal products, and also we expect higher payment from government programs to farmers in 2025,” she said.

Litkowski added, total production expenses are expected to increase as well, up by 2.6% this year.

One thing that will be down from 2024’s numbers, cash receipts for crop producers by almost 5% year-over-year.

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