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2025 farm income expectations are low

An Ohio State University professor says budgets won’t get easier for farmers in 2025. 

Farm Income Enhancement Chair Ani Katchova says income in 2024 is expected to be down by 4%.

“It’s coming off last year’s decline in farm income,” she says. “For two years in a row, we have had a reduction in farm income coming from a record high in 2022.”

But, she tells Brownfield the tighter economic situation could benefit farmers as Congress works to finalize a farm bill. 

“The expectations of a farm bill and support that could be in that farm bill is a huge uncertainty moving forward,” she says. “Perhaps it’s a good time to discuss a farm bill, because farm incomes are really down this year.”

Katchova says economic conditions are expected to improve slightly in 2025.

Brownfield interviewed Katchova during this week’s Ohio State Ag Policy and Outlook Conference.

AUDIO: Ani Katchova, Ohio State University