The chief economist for the American Farm Bureau Federation says the worst threat to farmers currently is a general economic recession. It’s because so many farmers have now become dependent on off-farm income to make ends meet and stay in operation. Farm Bureau’s Chief Economist, John Newton, spoke during a panel of ag economists’ discussion at the Crop Insurance Industry …
Deadline Nearing for Spring Crop Insurance Sign-Up
Farmers should note that important sign-up deadlines are coming up in the next few weeks for insurance coverage of spring planted crops. And as Rod Bain reports, a new endorsement is among the insurance offerings producers can consider.
Very Few Filings Expected for Federal Estate Taxes
During this tax season very few, if any, farms or small businesses will be subject to federal estate taxes. Gary Crawford has a story explaining why.
USDA to Release Complete Set of Tables for Agricultural Projections to 2028
On Feb. 14, 2019 at 12 p.m. EST, the U.S. Department of Agriculture (USDA) will release the complete set of tables prepared for the upcoming USDA Agricultural Projections to 2028 report. The new tables will include projections for farm income, U.S. fruits, nuts, and vegetables supply and use, and global commodity trade. Tables containing long-term supply, use, and price projections …
Growth in Operating Loans Boosts Farm Lending
The volume of non-real estate farm debt continued to increase in the fourth quarter of 2018, according to the Federal Reserve’s Agricultural Finance Databook. Total non-real estate farm loans were up nearly eight percent from a year ago, which was the seventh consecutive quarter of annual growth in loan volumes. In a news release, the Federal Reserve said the increase …
USDA Predicts 12 Percent Drop in Farm Income
Net farm income, a broad measure of profits, is forecast to decrease $9.1 billion, or 12.1 percent from 2017 to $66.3 billion in 2018, after increasing $13.8 billion in 2017. The Department of Agriculture’s Economic Research Service recently announced the forecast. USDA says, meanwhile, net cash farm income is forecast to decrease $8.5 billion, 8.4 percent, to $93.4 billion. Net …
Survey Shows Farmers Concerned with Lack of Farm Bill
Farmers are expressing concern over the lack of a new farm bill in the latest Purdue University/CME Group Ag Economy Barometer. The monthly survey in November asked producers how concerned they were regarding the farm bill. 75 percent of respondents said they were either somewhat or very concerned about the lack of a new farm bill with 33 percent of …
Agri View: BFTP-Farm Wives Working Off the Farm
The number of farm wives that work off the farm is still growing. Despite government programs, today farmers financially, the average farmer still has a hard time putting a lot into savings. Everett Griner talks about the farm wife having to look for a job in town to contribute to the family income in today’s Agri View. BFTP-Farm Wives Working …
Rising Output Compressing Ag Margins
Strong growth in both the U.S. and global economies will support increased demand in domestic and export markets through the end of the year. However, U.S. competitiveness is currently constrained by trade uncertainties and the high value of the U.S. dollar, further placing pressure on the agricultural economy as output in most industries rises. The latest Quarterly Rural Economic Review …
Farm Real Estate Levels Remain Near Record Highs
Farm real estate values remain near record levels set in 2015, despite a significant drop in farm income and a weak farm economy. The Department of Agriculture’s Economic Research Service says the value of U.S. farm real estate is a critical barometer of farm financial performance, that’s because farm real estate, including land and the structures on the land, generally …