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Fallout From Falling Net Farm Income and Stubborn Interest Rates: Ag Economists Reveal What’s Now at Risk in 2024

AgWeb Farm Journal

The latest Ag Economists’ Monthly Monitor projects a major drop in net farm income this year. Economists are also growing more pessimistic about the potential for interest rate cuts in 2024.

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

Agricultural Economics Insights

And occasionally, the data reveal something that was completely unexpected: farm incomes in 2022 set an all-time high. The New Record Figure 1 shows the USDA’s estimate of inflation-adjusted net farm income going back 95 years. For another perspective, inflation-adjusted net farm income averaged $161.9b

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Net Farm Income Projected Lower for 2023 and Beyond with the Forecasted Commodity Reset

AgWeb Farm Journal

Net Farm Income Projected Lower for 2023 and Beyond with the Forecasted Commodity Reset apiuser Wed, 09/06/2023 - 10:06

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Missouri’s net farm income projected to decline

Western FarmPress

A University of Missouri report shows a decrease in production expenses is not enough to offset lower commodity prices.

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3 Factors Drive Downturn: Net Farm Income Forecast to Be Down 25%

AgWeb Farm Journal

Tanner Ehmke says, “It’s hard to put yourself in growth mode when things are getting so expensive.”

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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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Proven road to farm profit in 2025

Western FarmPress

Projections show a sharp decline in net farm income in Nebraska for 2024 and into 2025, but an Ainsworth, Neb., farm family makes a strategic plan to navigate volatile markets.