Livestock Push Farm Income Levels Higher

USDA’s latest net farm income forecast projects net farm income at $179.8 billion. That’s sharply higher than one year ago. The livestock sector is driving much of that improvement with cash receipts expected to reach a record $299 billion. Meanwhile, crop receipts are estimated at $237 billion, which is the lowest since 2007. Farm assistance payments are up significantly, with direct payments expected to reach $40.5 billion, a more than 300 percent increase from 2024.