Net cash farm income for the Northern Plains in 2021 isn’t expected to change much from 2020. NDSU Extension Ag Finance Specialist Bryon Parman says the rally in market prices is going to help farmers. “The Heartland is expecting a nine percent increase due to higher commodity prices and looking at the Northern Plains, there’s not really much change. There’s better cattle, corn and soybean prices and not as big of a drop off. Other regions, heavy in cotton, are expected to see a big drop in net farm income.” Parman says one year can make a big difference, but the farm income forecast can always change. “This year is expected to be better than 2019, but not quite as good in 2020, but a lot of that is regional.”
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.