Farm incomes have been on the rise for the past five years and while they may drop some in 2023, they will still remain at a healthy level, according to Blaine Nelson, senior economist on the strategy, research, and analytics team at Farmer Mac. The past few years farm income has been on the rise. Nelson talked about the primary drivers and what this means for 2023.
Commodity prices are down compared to last year, but farmers should still remain at a profitable level.
Nelson said farmland values will continue to slow through the spring.
Exports have a direct correlation on farmland values, and Nelson said we’re going to want to see a weaker U.S. dollar.
For more information, visit farmermac.com.