Articles tagged under: farm income
Net Farm Income Down From Record Highs
Published December 1, 2023
Net farm income is down more than 20 percent from last year’s record high. USDA is forecasting farm profits at $151 billion, down from $183 billion in 2022. Economic Research Service Administrator Spiro Stefano said farm debt is increasing, but…‘Still One of the Best Years on Record’
Published November 30, 2023
Net farm income is forecast to total just over $151 billion this year. That’s down from 2022 net income of nearly $183 billion. USDA’s Economic Research Service made this forecast. Agriculture Secretary Tom Vilsack released a statement, saying farm income…More Normal Conditions Forecast
Published November 20, 2023
Agricultural Economic Insights Managing Partner David Widmar says farmers should be prepared to return to a more normal year following a time of record farm income. “At some point, we’re going to see incomes come off these record highs," said…Farm Income Growth Expected This Year
Published March 29, 2022
Agricultural lenders across northern states are closely watching the rising commodity prices. "As a result of those high prices, we expect strong farm income growth through the end of 2022," said Joe Mahon, regional outreach director, Federal Reserve Bank of…Input Costs Cut Into Net Farm Income
Published February 7, 2022
USDA is projecting 2022 net farm income at $113.7 billion, down 4.5 percent from last year. "A lot of the decline is due to the drop in government payments and higher production expenses," said Spiro Stefanou, administrator, USDA Economic Research…Farm Bankruptcy Rate is Low
Published January 23, 2022
Farm net incomes are going up. American Sugar Alliance Director of Economics and Policy Analysis Rob Johansson credits the increase to crop and livestock values remaining strong through 2021. "From the December USDA release, farm income is expected to be…Top Story #5: The Farm Balance Sheet and Strong Commodity Prices
Published December 29, 2021
According to Bell Bank Senior Vice President of Agribusiness Development Lynn Paulson, 2021 was a decent year financially for many farmers despite the dry conditions. "Even producers with marginal yields probably did ok, partly due to increased commodity prices and…Northern Plains Net Cash Farm Income Won’t Change Much
Published February 15, 2021
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…The Impact of Record Level Ad-Hoc Payments on Ag
Published December 2, 2020
University of Missouri Food and Agricultural Policy Research Institute Director Pat Westhoff isn’t surprised with USDA's revised farm income forecast. Ad-hoc payments, including the Coronavirus Food Assistance Program combined with the Paycheck Protection Program, total $32.4 billion. "There's a lot…