USDA Projects Farm Income at 7-Year High
The last time federal payments accounted for a greater percentage of farm income was 2001 at 41 percent. Sonny Perdue said Monday he hopes to announce a new version of coronavirus relief this week.
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Farm Income
Financial Outlook Troubling for Farmers
The Trump administration is expected to distribute a record $33 billion in payments to farmers this year. The funds would push government payments to 36 percent of farm income but still be too little to keep some farmers afloat.
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USDA Predicts Better 2020 for Ag, More Aid Possible
In spite of challenges such as the coronavirus and competition from Brazil, the USDA’s chief economist sees “more hopeful signs” for farmers.
Read moreFarming Remains a Family Business
Family farms represented 98 percent of U.S. farms and 88 percent of production in 2018, according to a USDA report. The report also said most farmers earn more than the U.S. median income.
Read moreTrade Aid Helps Farmers’ Balance Sheets
Nearly one-third of projected U.S. net farm income this year will come from government aid and federally funded commodity insurance payments, according to a forecast issued last week by the USDA.
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