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USDA expects farmers to make even less

The USDA has forecast net farm incomes 12 percent lower for 2019.

“Net cash income and net farm income are both expected to fall from last year.”

Chief Economist Rob Johansson says it’s slightly less than the previous estimate because of payments through the Market Facilitation Program and disaster assistance, but production costs are rising.  “Production expenses are up by about $14.8 billion compared to last year.”

Johansson says farm debt to assets values are also increasing slightly which indicates growing financial pressures.