Trimble Agriculture

SEPTEMBER 20, 2023

After a record high in 2022, farm income is anticipated to decline by 22 percent in 2023. 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.

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Farming Farming Net Farm Income Poultry 105

Trimble Agriculture

JULY 5, 2023

The USDA expects a decrease in farm sector profits this year. Net farm income is forecast at $136.9 As cash receipts for commodities tick down and direct government payments fall, many operators are looking for ways to reduce costs and increase farm profitability.

Farming 98

Farming Farming Finance Net Farm Income 98

Todays Farmer Magazine

APRIL 30, 2024

FAPRI’s report shows prices for many farm commodities have fallen sharply from 2022 peaks and will likely decline further for crops harvested in 2024 and beyond. As a result, net farm income is expected to hit the lowest level since 2020. per bushel in 2022-23 fall to a projected $4.39 per bushel.

Net Farm Income 52

Net Farm Income Farming Farming Poultry 52

Agricultural Economics Insights

SEPTEMBER 25, 2023

farm economy, we stumbled across a trend that made us do a double-take. While we anticipated farm interest expense to increase meaningfully, the $8.4 billion jump from 2022 levels, a 34% increase, will leave a dent in farm budgets. This data comes directly from the USDA’s net farm income estimates.

Net Farm Income 62

Net Farm Income Farming Farming Agriculture 62

ProAg

NOVEMBER 28, 2023

Fresh in November is renewed optimism regarding crop prices for harvest next fall. Both corn and soybean prices have moved higher, spurring the positivity and boosting net farm income estimates. The survey shows a spike in income forecasts for the new year by almost $5 billion.

Net Farm Income 52

Net Farm Income Harvesting Harvester Harvest 52

Trimble Agriculture

SEPTEMBER 11, 2024

Read key takeaways for farmers, ranchers, and rural landowners from the USDA’s September 2024 farm income forecast. use the USDA’s farm income forecast to guide financial decisions for the coming year. Key Takeaways from the 2024 Farm Income Forecast Net farm income decreased by 19.5

Farming 59

Farming Farming Net Farm Income Finance 59

Todays Farmer Magazine

APRIL 28, 2023

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 farm-related outlays decline in fiscal years 2023 and 2024.

Net Farm Income 52

Net Farm Income Real Estate Supply Chain Crop 52

Trimble Agriculture

JANUARY 24, 2024

In 2023, inflation-adjusted net farm income is forecasted to decline 20 percent, falling from several years of record highs. This trend is expected to continue into 2024, albeit at a slower pace, with income falling close to the five-year average. Net farm income is nearing the five-year average.

Net Farm Income 59

Net Farm Income Agriculture Agriculture Farming 59

ProAg

SEPTEMBER 12, 2023

farm income in history. The department’s most recent farm income forecast projected a sharp 23% decline in profits compared to 22. However, the $42 billion decline in net income will not only be the largest on record in nominal terms but will set the stage for even lower income in 2024.

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Farming Farming Poultry Livestock 59

Agribusiness Blog

MAY 26, 2021

Farmers are allowed to sell their crops in 2021 but contract for the payment to be received in 2022. This means that the farmer would normally pick up the income in 2022 (when payment is made) but can elect to accelerate the income into 2021. For example, assume that Clara is trying to report $150,000 of farm income for 2021.

Net Farm Income 52

Net Farm Income Farming Farming Crop 52

Agwired

FEBRUARY 9, 2024

According to a new research brief from CoBank’s Knowledge Exchange, cocoa prices are likely to remain elevated until a new African crop comes to market in late 2024. Registered voters support farmers and the protection provided by the crop insurance program, according to recently released data from National Crop Insurance Services (NCIS).

Net Farm Income 45

Net Farm Income Manufacturing Crop Pruning 45

Agwired

MARCH 22, 2024

The American Farm Bureau Federation and Louisiana Farm Bureau presented Rep. Star Hill Farm, where Maker’s Mark bourbon is crafted, is the world’s first distillery to achieve Regenified Tier 2 certification and has pledged its grain to be sourced from Regenified certified farms by 2025. Register for AgCon2024.

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Plowing Net Farm Income Farming Farming 45

National Sustainable Agriculture Coalition

MAY 10, 2024

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. Strengthening the Farm and Food System Workforce (Sec. 11205, 12201).

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Ruralism Food Farming Farming 110

Agricultural Economics Insights

DECEMBER 17, 2023

It’s hard to know if these issues were the cause, but there was no new farm bill. Once it became clear a new, five-year bill wasn’t even close, the 2018 Farm Bill got a one-year extension. bushels per acre, the USDA December estimate pegs the corn crop 6.7 Better luck next year? Corn Yield Again Below Trend At 174.9 2018 was 5.2

Agriculture 122

Agriculture Agriculture Farmland Yield 122

Agwired

JANUARY 10, 2025

Department of Agriculture after it announced that an additional $650 million would be made available to support struggling specialty crop producers. Nominate the cream of the crop for the National Agri-Marketing Association Agribusiness Leader of the Year, NAMA Marketer of the Year, Ag Association Leader, or Next Gen NAMA awards.

Net Farm Income 45

Net Farm Income Marketing Agriculture Agriculture 45

Agribusiness Blog

JANUARY 31, 2021

First, if you are a self-employed sole proprietor farmer and you reported less than $100,000 of net farm income on your 2019 Schedule F (or a loss), you are allowed to increase your loan to a maximum $20,833 based on your line 9 gross income assuming it is at least $100,000. This assumes you have no employees.

Net Farm Income 52

Net Farm Income Farming Farming Processing 52

Modern Farmer

AUGUST 9, 2024

As attorney general in California, she appealed a federal ruling that nixed California’s foie gras ban , and defended California’s law requiring humane, free-range facilities at egg farms. Net farm income hit $165 billion between 2021 and 2023, compared with $94 billion between 2017 and 2019.

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Farming Farming Food Agriculture 100

National Sustainable Agriculture Coalition

JANUARY 14, 2025

food and farm system for decades to come. This post examines the American Relief Act and looks ahead to what a busy 2025 has in store for federal food and farm policy. Throughout these negotiations, federal food and farm policy observers closely tracked several provisions. 118-42) – through March 14, 2025.

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Net Farm Income Distribution Farming Farming 59

Civil Eats

FEBRUARY 6, 2025

For its first hearing of the new Congress , the Senate Agriculture Committee invited the leaders of the countrys biggest farm groups to Capitol Hill to share their perspectives on the state of the U.S. farm economy. “You would see farms go out of business and we could see interruptions in our food system.”

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Net Farm Income Farming Farming Fertilizer 52