USDA Raises 2021 Farm Income Forecast

Dan Economy

The final farm income picture for 2021 is shaping up even better than had been expected. USDA’s Economic Research Service (ERS) recently updated their farm sector profit projections, which are now forecast to increase this year. Gary Crawford has more details. Spiro Stefano, ERS Administrator, outlines some of the changes in this new farm income forecast, compared to the last forecast three …

Small Family Farms and Off-Farm Income

Dan Economy

Several small-sized farms in the United States rely on the principal operator or spouse to bring in off-farm income, but how does that affect the farm’s bottom line? Rod Bain has the story. Sponsored ContentNuseed Carinata Covers New GroundJuly 15, 2024CIR Agriculture Harvester ProductsJuly 1, 2024TriEst Ag Group: Partners in ProfitabilityApril 1, 2024

A Third of 2019 Farm Income Derived from Government Assistance

Dan Economy

The overall 2019 farm income is projected to increase more than ten percent from last year, however much of the reason for the earnings growth is based on various assistance afforded to the agricultural industry.   According to a report from USDA’s Economic Research Service (ERS), net farm income is forecasted at $92.5 billion for 2019, an increase of $8.5 billion …

November Ag Economy Barometer Released

Dan Economy, Industry News Release

(NAFB) — The Purdue/CME Group Ag Economy Barometer rose in November for the second month in a row, climbing to 153, 17 points higher than in October when the index stood at 136. This month’s rise in the ag economy sentiment index left the barometer tied with July for the highest reading of 2019. Once again, the rise was driven …

Survey: Producers Less Optimistic Regarding Farm Economy

Dan Economy, Industry News Release

The Purdue University/CME Group Ag Economy Barometer weakened in February as producers became less optimistic about current economic conditions and the commodity price outlook. The barometer, which is based on a survey of 400 U.S. agricultural producers, declined seven points to a reading of 136, down from 143 in January. A rating below 100 is negative, while a rating above …

Ag Lenders Say Farmers Depend on Off-Farm Income

Dan Economy, Industry News Release

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 …

USDA Predicts 12 Percent Drop in Farm Income

Dan Economy, Industry News Release

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 …

USDA Announces Early Release of Select Commodity Tables

Dan Economy, Industry News Release

On November 2, 2018, at 12:00 p.m. EDT, the U.S. Department of Agriculture (USDA) will release selected tables prepared for the upcoming USDA Agricultural Projections to 2028 report. USDA will post online tables containing long-term supply, use, and price projections to 2028 for major U.S. crops and livestock products and will include supporting U.S. and international macroeconomic assumptions. The short-term …

Ag Economy Index Sharply Lower on Farm Income Concerns

Dan Economy, Industry News Release

Concerns over weak farm income forced a sharp decline in the monthly Purdue University/CME Group Ag Economy Barometer. The index dropped to a reading of 114, 15 points below its August reading of 129 and its lowest reading since October 2016. Organizers say the barometer, a sentiment index based upon a nationwide monthly survey of 400 U.S. agricultural producers, has …

Agri View: Mixed Commodity Prices

Dan Agri View, Economy

Everett Griner talks about seasonal changes having an impact on commodity prices in today’s Agri View. Mixed Commodity Prices You know, it’s not just the tariff situation that has an impact on agriculture and the farm economy. There is farm credit. Some high-up officials, that deal with the problem every day, are inclined to believe that high interest rates and …