Net Farm Income in 2024 Forecast to Be Down 25% from Last Year

T Feb. 7 es USDA port anticipat first decrease from 2023’s forecast of $155 billion to 2024 6 billion.

A $21 billion expected drop in cash 2023 eipts for agric $155 billion to $116 billion ion expected nearly $40 billion tion 25.5% ses explain 95% of the fore year-to-year .

Direct government payments are estimated to decrease by second billion, or 16%, between 2023 and 2024 to slightly over $1 2022 ll $185.5 billion producers are expected to face a rough year, according to these numbers.

Broilers and hogs are the only catego 27% s exp $43 billion e incre 2023 , up $700 milli 2024 nd $300 million respectively.

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