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Update the Record Books: Net Farm Income in 2022 Was All-Time High

Agricultural Economics Insights

We spent last week updating and creating several charts to summarize and break down the USDA’s latest farm financial data. There are always a few surprises , such as nonreal estate debts in 2022 jumping higher while real estate debt slowed. For another perspective, inflation-adjusted net farm income averaged $161.9b

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Farm Real Estate Loan Delinquencies Reach New Low

Agricultural Economics Insights

Despite falling net farm incomes , rising interest expenses , and generally low producer sentiment , farm loan delinquencies improved in 2023. The Kansas City Federal Reserve has reported quarterly activity for farm real estate loans since 1991. of non-real estate loans were delinquent.

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U.S. Farmland Market Outlook for 2024 

Trimble Agriculture

As COVID-era funding runs out and input costs continue to rise, farm income is expected to fall 22 percent in 2023. Even so, it’s important to understand that farm liquidity remains strong and net farm income will still remain well above the 10-year average. billion to $140.4

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FAPRI forecasts falling prices for producers

Todays Farmer Magazine

Marc Rosenbohm, senior research associate with the University of Missouri’s Food & Agricultural Policy Research Institute, discusses the crop outlook during the 2023 Abner Womack Missouri Agriculture Outlook Conference on April 12 in Columbia. Projected net income declines in 2023 and 2024 as receipts and payments fall.

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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

On May 1, 2024 – after months of stalled farm bill negotiations on both sides of Capitol Hill – Senate Agriculture Committee Chairwoman Debbie Stabenow (D-MI) released a detailed section-by-section summary of her farm bill proposal. NSAC will reserve final assessment until the full legislative text becomes available.

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