Farm income outlook

US farm income is expected to increase for the fourth consecutive year.  

Ani Katchova, an associate professor with Ohio State University, says federal support has helped farm income remain resilient.

“Government payments that we expect to see from the Market Facilitation Program and CFAP2 due to trade wars and the pandemic definitely helped to boost and support farm incomes for 2020,” she says.  

And Katchova says she doesn’t anticipate big changes to farm income over the next few years.

“If we look into long-term projections of farm income and crop prices, they show slight increases or decreases for the next two or three years and then flatten or become uninformative after 2-3 years,” she says.

She says farmers are experiencing some financial stress, but ag loan delinquency rates and bankruptcy rates are relatively low.

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