Trimble Agriculture

FEBRUARY 19, 2024

This is the largest year-over-year decline in income the agriculture sector has ever seen. If realized, net farm income would fall to $116.1 In this article, we’ll dig into what factors are influencing farm income in 2024 and what farmers can do to weather it. billion, placing it below the 10-year average.

Net Farm Income 59

Net Farm Income Farming Farming Finance 59

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. Hog, poultry and milk prices all declined in 2023 as demand weakened.

Net Farm Income 52

Net Farm Income Farming Farming Poultry 52

ProAg

SEPTEMBER 5, 2023

USDA released its August 2023 Farm Income Forecast, casting a stark projection of a $41.7 billion loss in year-over-year income. While 2022 was a record-setting year at $183 billion in net farm income, the inflation-included 25.4% Net cash farm income is expected to fall 26.5%

Net Farm Income 52

Net Farm Income Farming Farming Poultry 52

Trimble Agriculture

JANUARY 17, 2024

Lower agricultural commodity prices are contributing to a decline in net farm income in 2024. This, combined with higher input costs, fewer government payments, and rising interest rates, is leading to a drop in net farm income. In 2024, net farm income is predicted to follow a similar pattern of decline.

Marketing 104

Marketing Net Farm Income Agriculture Agriculture 104

Daily Yonder

MARCH 14, 2024

A long awaited rule that changes which meat and poultry goods can bear the label “Product of U.S.A.” farmers and ranchers has been in decline in recent years as big corporations merge producers in the meat, poultry, and egg markets. From 2022 to 2023, net farm incomes dropped by $41.8 The number of U.S.

Net Farm Income 117

Net Farm Income Poultry Production Marketing 117

NASDA

SEPTEMBER 28, 2023

As a result of persistently high input costs and rapidly declining commodity and food crop prices, the USDA now projects that this year’s drop in both net farm income and net cash income will be the largest decline of all time, down $42 billion and $54 billion, respectively.

Farming 130

Farming Farming Net Farm Income Agriculture 130

Trimble Agriculture

SEPTEMBER 20, 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. Livestock and Poultry: +17.9% percent in 2023 after accounting for inflation.

Farming 105

Farming Farming Net Farm Income Poultry 105