Although the economy is aware of tariffs on imports and a promise of more to come, the Federal Reserve kept interest rates unchanged and forecasted two more rates cuts later in the year.
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Interest rates unchanged, net farm income up in 2025
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In other ag news, Parman was surprised to see USDA’s projections for net farm income and net cash income, adjusted for inflation, for 2025, and that it was coming mostly from government payments and farm income.
“I was a bit surprised to see that USDA was projecting an increase of $41 billion in 2025 compared to 2024. Net farm income declines a little bit in 2024 and then this big increase in 2025,” he said.
USDA is projecting a significant increase in net farm income in 2025, primarily driven by an expected increase in direct government payments, rather than changes in commodity prices or production costs.
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