In a recent report, USDA forecast 2020 net farm income to increase 3.3 percent in the year ahead. The Agriculture Department also said U.S. net cash income, which does not include adjustments for depreciation or inventory, would decline nine percent. According to Farm Bureau Market Intel, cash receipts from livestock and crop sales are projected to rise. However, that increase does not offset the loss of the Market Facilitation Program payments. Farm real estate debt is also projected to reach a record high in 2020.
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