FAPRI: Lower net farm income in the forecast

FAPRI: Lower net farm income in the forecast

U.S. net farm income is expected to dip slightly in the next two years but an ag economist says the outlook is still positive for U.S. agriculture.

A new report from the Food and Ag Policy Research Institute at the University of Missouri says net farm income is projected at $143 billion in 2023, a sharp decline from last year.

Pat Westhoff with FAPRI says last year’s strong farm income was unusual and farmers shouldn’t expect the level of prices or income to continue.

.