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Update the Record Books: Net Farm Income in 2022 Was All-Time High

Agricultural Economics Insights

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 real estate debt slowed. For another perspective, inflation-adjusted net farm income averaged $161.9b

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Farm Real Estate Loan Delinquencies Reach New Low

Agricultural Economics Insights

Despite falling net farm incomes , rising interest expenses , and generally low producer sentiment , farm loan delinquencies improved in 2023. The Kansas City Federal Reserve has reported quarterly activity for farm real estate loans since 1991. of non-real estate loans were delinquent.

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U.S. Farmland Market Outlook for 2024 

Trimble Agriculture

As COVID-era funding runs out and input costs continue to rise, farm income is expected to fall 22 percent in 2023. Even so, it’s important to understand that farm liquidity remains strong and net farm income will still remain well above the 10-year average. billion to $140.4

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FAPRI forecasts falling prices for producers

Todays Farmer Magazine

Crop insurance accounts for 45% of projected spending on major farm-related programs over the next decade. Net farm income reached a record level in 2022, as sharply higher crop and livestock receipts more than offset reduced government payments and increased production expenses. in 2023 and under 2% in 2024.

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A Deep Dive on the Senate’s Farm Bill Proposal: the Rural Prosperity and Food Security Act of 2024

National Sustainable Agriculture Coalition

This new program offers guaranteed loans to finance real estate and infrastructure investments and provide working capital for commercial supply chain development. percent of farms.

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