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Report Recap: Four Factors Impacting Farm Income in 2023 

Trimble Agriculture

In 2022, landowners experienced record high farm income, with net farm income reaching $183 billion. Net Farm Income and Cash Farmer Income, Inflation Adjusted (billion dollars) Note: F = forecast. Livestock and Poultry: +17.9% percent in 2023 after accounting for inflation.

Farming 105
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A Deep Dive on the Senate’s Farm Bill Proposal: the Rural Prosperity and Food Security Act of 2024

National Sustainable Agriculture Coalition

Excessive proposed cost-share payments for livestock feed management. Creates a 10% set-aside of EQIP funds for payments for practices implemented on small farms. Retargeting two-thirds of the 50 percent EQIP set-aside for livestock practices towards advanced grazing management. No language to prevent payment limitation abuse.

Ruralism 110
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The 2023 Agricultural Year in Review

Agricultural Economics Insights

bushels per acre, the USDA December estimate pegs the corn crop 6.7 From a budget perspective, corn fertilizer expenses were more than $270 per acre in 2022 and $202 for the 2023 planted crop, and they have fallen to $150 per acre this Fall. To wrap up this list positively, farm incomes in 2023 remained historically high.