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State-Level Net Farm Income: Not a Boom for Everyone

Agricultural Economics Insights

Incomes Higher, Almost Everywhere Unfortunately, the USDA’s state-level data are only available through 2022. Figure 1 shows the recent change in net farm income by comparing 2022 with the 2016-2020 average. Underscoring that variability is Washington, where farm income in 2022 was 24% lower than the 2016-2020 period.

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U.S. Farmland Market Outlook for 2024 

Trimble Agriculture

farmland market has remained remarkably resilient for the last several decades—but will it last? As COVID-era funding runs out and input costs continue to rise, farm income is expected to fall 22 percent in 2023. Net Farm Income After a record-breaking high in 2022, net farm income is expected to fall a total of $41.7

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Why Ag Land Values Have Been Strong: 9 Images

Agricultural Economics Insights

The first graph – from U.S.D.A – shows how net farm income has had two periods of very strong farm profitability during the last 20 years. agriculture has experienced the strongest income period since World War II, which is a fundamental reason for higher land prices today. Figure 1 – U.S.

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Letter Urging Congress to Pass a Bipartisan Farm Bill in 2023

NASDA

To manage risk, it’s important for America’s farmers, growers, and ranchers to be supported by strong farm bill programs as they face extreme weather conditions, natural disasters, high supply costs and inflationary pressures – all of which farmers, growers, and ranchers are facing right now.

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Farm Working Capital Tumbles

Agricultural Economics Insights

net farm incomes – which we broke down here – also updated estimates of farm financial conditions. From the balance sheet, a concerning trend is tumbling working capital across the farm sector. Looking ahead, limited working capital could pose a challenge if income fell sharply.

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Free Financial Resources for Farmers with Ag Loans

Trimble Agriculture

According to the latest USDA data, net farm income is forecast to fall 27 percent in 2024. Just be sure you fully understand requirements to avoid unwanted restrictions on how you can use your farmland. Farmers face unique financial challenges, from fluctuating market prices to unpredictable weather conditions.

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Understanding Historical Farmland Market Trends 

Trimble Agriculture

The farmland market is an important indicator of an operation’s financial strength. For farmers who own their land, farmland makes up more than 80 percent of their total assets. Historically, farm values have held steady in the face of economic turbulence, making them an effective risk management tool during market fluctuation.