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label stripped America’s cattle producers of a vital opportunity to market their USA beef while denying consumers the opportunity to support them,” said Joe Maxwell, co-founder of the advocacy group Farm Action and long-time farmer, in a press release. “[Product of U.S.A. From 2022 to 2023, netfarmincomes dropped by $41.8
In 2022, landowners experienced record high farmincome, with netfarmincome reaching $183 billion. NetFarmIncome and Cash Farmer Income, Inflation Adjusted (billion dollars) Note: F = forecast. But in 2023, that number is predicted to fall 22 percent. percent from 2022.
Higher fertilizer, fuel and feed costs contributed to a sharp increase in farm production expenses in 2022. Cattle, hog, poultry and milk prices all increased in 2022. Federal spending on farm-related programs was above the historical norm between 2019 and 2022, largely because of short-term, ad hoc programs.
According to the latest USDA data, netfarmincome is forecast to fall 27 percent in 2024. Its goal is to help farm operators get a clearer picture of their operation’s current financial standing and make more informed financial decisions about their ag loans. Want to try it for yourself? Click the link below.
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