Analysts Expect Farm Income to Stabilize

After three consecutive years of decline, farm sector profits are forecast to be relatively stable when data collection is complete for 2017. Net farm income, a broader measure, is forecast to increase by 2.7 percent to $63.2 billion in 2017, according to a USDA report.

 

The value of U.S. agricultural sector production is expected to rise by 2.2 percent to $407.8 billion.

 

The USDA also expects an $11.3 billion increase in the value of animals/animal products and a $3.3 billion increase in farm-related income. Those increases more than offset a predicted $5.9 billion, or 3.1 percent, decrease in the value of crop production.

 

Payments made directly from the government, such as Price Loss Coverage, Agricultural Risk Coverage, and conservation program payments, are forecast to decline by 13.8 percent in 2017.

 

Source: Iowa Farmer Today

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