USDA Expects Uptick in ’19 Farm Income

"Despite all the turmoil we've seen in the markets, we do see a small uptick in both net farm income and net cash income."

Deputy Chief Economist Warren Preston, said the USDA is forecasting cash farm income this year to increase $4.3 billion or about 4.7%, net farm income is expected to come in around $63.9 billion up 10% or $6 billion from last year.  However, 2018 net farm income dropped by $12 billion so farmers will only make up about half of last years loss.  Meanwhile USDA projects an almost 4% increase in farm debt.

"The sectors risk of insolvency is at the highest level since 2002 but we're still well below the levels we saw in the 1980s so the likelihood of default across the sector does remain historically low," Preston added.

And things could get better than his forecast, this was assuming current trade situations stay as they are now.