Market News & Headlines >> U.S. Farm Income Seen Slipping

Net U.S. farm income, which rose slightly in 2017 for the first time in four years due largely to stronger livestock receipts, will slip by $3.8 billion in 2018 to a nine-year low, according to USDA. 

USDA’s Economic Research Service on Wednesday forecast 2018 net farm income at $59.5 billion, down from $63.8 billion in 2017 in nominal dollars on a small decrease in gross income and a 1.0% increase in total expenses. 

USDA projected net cash income for 2018 at $91.9 billion, down $5 billion from 2017 and the lowest since 2009 on a nominal basis, due to small decreases in receipts for crops and livestock and a 1.0% rise in production expenses and a drop of $2.1 billion (18.4%) in government payments to farmers.