Managing for Profit

Farmers brace for lower income

Farm income will be lower this year.  There are several reasons for those expectations.  American Farm Bureau Chief Economist Bob Young says it’s become clear that net farm income will not be what it’s been the last few years.  He says that’s especially true for crop farmers, but even though livestock producers had a better 2014 than 2013, Young says their fortunes are softening as well.  And perhaps the most glaring example of a lower market outlook is for dairy.  The amount of dairy products on the global market has contributed to the drop in that market.

AUDIO: Bob Young (3 min. MP3)