Farm income expected to drop 22.8%
Farm sector income is forecast to fall 22.8% from last year’s record due to declining crop and livestock receipts, higher expenses and lower government payments.
The USDA Economic Research Service’s August forecast issued last week sees 2023 net farm income at $141.3 billion, down $41.7 billion from last year but still well above the 20-year average of $115.2 billion in inflation-adjusted...
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