University of Missouri Updates Ag Baseline Projections

According to the latest numbers out from the University of Missouri, net farm income cloud drop $3 billion. The University’s Food and Agricultural Policy Research Institute released the June update Tuesday.

The forecasted decline in net farm income comes as farmers will receive a record total of government payments at $33 billion and total farm support reaching $50 billion in the current fiscal year. Given projected market developments and the assumption of no new government payment programs, both net farm income and net cash income are forecasted to decline again in 2021, with net farm income falling below $80 billion.

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