Farm Income Forecast

USDA's New farm income forecast for this year has U.S. farmers making a lot less money than last year.   “Net cash farm income for 2024 is forecast at $154 billion, which is about a 7.2% drop from 2023," said Spiro Stefano  who runs USDA's Economic Research Service.  He noted that crop...

The USDA’s new farm income forecast for 2023 says the farm sector as a whole will see net cash income down from last year's record high by almost 21% but many analysts are quick to point out.   “Almost any year in connection to 2022 is going to look less favorable," USDA chief economist Seth Meyer said farm country can’t look at new forecast as a farm income disaster.   “Yes, it is declin...

ERS released the February Farm Income Forecast this week.  Net farm income, a broad measure of profits, is forecast at $136.9 billion for the year ahead, a decrease of $25.9 billion, or 15.9%, when compared to 2022.  After adjusting for inflation, net farm income is forecast to decrease $30.5 billion, or 18.2%...