Farm Income Moving Up, But Is That Good News?
USDA has updated its farm sector income forecast for 2025 and projects rising incomes countered by rising costs.
Carrie Litkowski
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.
Projected Farm Income Remains Down For FY24
The USDA released new farm income forecast numbers, and while they're not drastically different from previous reports this year, they seem to take on more meaning the closer we get to the end of the calendar year. Carrie Litkowski, senior economist with USDA Economic Research Service, said farm income is on the decline.
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Farm Debt Could Return This Year
The USDA is forecasting that farm commodity prices will drop in the year ahead and production input costs will stay or even move higher. For producers, the question is: when/if input prices follow those output prices lower.
“We are forecasting that fertilizer and feed expenses will decline in 2023, yet they will remain high," noted USDA economist Carrie Litkowski. She added expenses for m.
Can We Expect More Farm Bankruptcies In 2021?
Farm bankruptcies have been steadily declining over recent years. Will that trend continue into 2021? Gary Crawford take a look.
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