Articles tagged under: farm income
Minnesota Farm Income Hits Historic Low
Published April 4, 2025
Minnesota’s median net farm income in 2024 dropped to just under $20,000, driven by declining crop prices and reduced yields. “It is the lowest for the century, unfortunately,” said Pauline Van Nurden, Extension economist, Center for Farm Financial Management. Despite…Government Payments Drive Farm Income Boost
Published March 15, 2025
The USDA is forecasting a significant rise in farm income for 2025, with net farm income projected to increase by 26.4 percent and net cash farm income by nearly 19 percent when adjusted for inflation. However, NDSU Ag Finance Specialist…Fed Expert: Land Values Are Keeping Farm Credit Afloat
Published February 27, 2025
Credit conditions in agriculture weakened in 2024, with rising interest rates and declining farm income putting pressure on loan repayment, according to Nathan Kauffman, Senior Vice President at the Federal Reserve Bank of Kansas City. While financial stress has grown,…Direct Payments Key to Farm Income Growth in 2025
Published February 7, 2025
Net cash farm income for the calendar year 2025 is forecast at $193.7 billion, up 22 percent from 2024. Net farm income is forecast at $180.1 billion, up 29.5 percent from the prior year. "When you look at net cash…Farm Income Takes Another Dip
Published December 4, 2024
Farm income took another downturn in 2024. According to USDA, net farm income is forecast at nearly $141 billion. That’s down more than six percent from a year ago. That follows a 22 percent drop in 2023. Despite two consecutive…State-by-State Farm Profitability Detailed
Published September 29, 2024
Economist John Newton, who is now the executive head of Terrain, has released a state-by-state report on farm profitability. North Dakota had the biggest downturn in the Midwest and Northern Plains for gross farm income last year, dropping 12 percent.…Ag Credit Survey Cites Lower Farm Income
Published May 13, 2024
The Minneapolis Federal Reserve's quarterly agricultural credit survey of over 60 ag lenders cited growing pessimism. Fed Regional Outreach Director Joe Mahon pointed to declining farm income as a key contributor to that sentiment. "Seventy percent of lenders across our…MN Farm Income Takes a 76% Hit
Published April 12, 2024
University of Minnesota Center for Farm Financial Management Extension Economist Pauline Van Nurden reports the 2023 median net farm income for Minnesota farms fell 76 percent from the previous year. This is largely due to rising costs and around-average yields.…A Downturn After 3 Years of Record Farm Income
Published February 8, 2024
This year’s U.S. net farm income is expected to be down 26 percent from 2023. USDA economist Carrie Litowski cites lower commodity prices, less government support and higher farm expenses. "Net cash farm income is forecast at $160.4 billion for 2023…