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USDA’s 2019 farm income projection is up

The USDA projects higher 2019 farm income than it did a year ago. The net farm income forecast is $77.6 billion. In a comparison done by Agri-Pulse, that’s a $14 billion increase from last year’s projection. The increase is attributed partly to an $11 billion jump in 2019 cash receipts combined with a $3 billion drop in projected cash expenses. Another reason is that direct government payments are projected to be more than $10 billion. That’s up by more than $1 billion.

The projection is from USDA’s decade-long forecast projecting improved income through 2028.

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