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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 realestate debt slowed. For another perspective, inflation-adjusted netfarmincome averaged $161.9b
Despite falling netfarmincomes , rising interest expenses , and generally low producer sentiment , farm loan delinquencies improved in 2023. The Kansas City Federal Reserve has reported quarterly activity for farmrealestate loans since 1991. of non-realestate loans were delinquent.
As COVID-era funding runs out and input costs continue to rise, farmincome is expected to fall 22 percent in 2023. Even so, it’s important to understand that farm liquidity remains strong and netfarmincome will still remain well above the 10-year average. billion to $140.4
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 netincome declines in 2023 and 2024 as receipts and payments fall.
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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