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In 2022, landowners experienced record high farmincome, with netfarmincome reaching $183 billion. NetFarmIncome and Cash Farmer Income, Inflation Adjusted (billion dollars) Note: F = forecast. Livestock and Poultry: +17.9% percent in 2023 after accounting for inflation.
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.
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, farmincomes in 2023 remained historically high.
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