Net-farm-income forecast to decrease

Daniel Munch American Farm Bureau Federation
Feb 14, 2024
Feb 14, 2024

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Net farm income is a broad measure of farm profitability. When adjusted for inflation it’s expected to decrease 27 percent or $43 billion from 2023.

American Farm Bureau Federation

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Daniel Munch American Farm Bureau Federation

The U.S. Department of Agriculture released Feb. 7 the first insights into net-farm-income expectations for 2024. The latest report anticipates a decrease from 2023’s forecast of $155 billion to $116 billion – a decrease of almost $40 billion or 25.5 percent. It’s the largest recorded year-to-year dollar decrease in net farm income. The decline marks the second-consecutive decrease since record farm-income levels in 2022.

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