Net farm income forecasted to see a record-setting decrease in 2024

by | Feb 9, 2024 | 5 Ag Stories, News

The Economic Research Service forecasts that farm income will decrease by 25 percent in 2024. Danny Munch, an economist with the American Farm Bureau Federation, said it’s the largest year-to-year dollar decrease in net farm income on record.

Munch said there are two main drivers behind the income drop.

Munch added that this report emphasizes the need for the new farm bill to be finished this year.

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