Net Farm Income - AG INFORMATION NETWORK OF THE WEST
U.S. net farm income will be down substantially in 2023.
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U.S. net farm income will be down substantially in 2023.
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Net Farm Income Most agricultural economists and policy wonks saw this coming. USDA’s September 2020 farm income projections suggested net farm income (a broad measure of farm profitability across the entire farm sector) would reach $103 billion this year, up 23% from the prior year and the highest level since 2013’s record high. That was before the second $14 billion Coronavirus Food Assistance Program and before new crop inventories began to shrink as the outlook for U.S. agricultural exports improved, i.e., China and Phase 1. Assuming those export sales are realized, USDA’...