On Feb. 7, USDA released the first insights into net farm income expectations for 2024. The latest report anticipates a decrease from 2023’s forecast of $155 billion to $116 billion – a drop of nearly ...

USDA forecasts net farm income at $116.1 billion in 2024, which is a $39.8 million (25.5%) dip compared to 2023. Used to gauge a broad measure of profits in agriculture, CoBank’s Tanner Ehmke says ...

USDA’s most recent Farm Sector Income Forecast, released Nov. 30, projected a smaller – but still significant - drop in 2023 net farm income compared to August estimates. The $41.7 billion (23%) ...

USDA’s Economic Research Service (ERS) will provide an updated 2024 net farm income forecast on Thursday. Even with improvements in livestock margins, the August Ag Economists’ Monthly Monitor showed ...

Farmers are bracing for what could be the largest single-year reduction in profitably ever recorded. Net farm income across the country is forecast to drop this year by 25.5% — 27.1% after accounting ...