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Farmers concerned about sharp decline in net farm income forecast

Some farmers say several factors have been putting the squeeze on producer profitability.

Eastern Iowa farmer Lance Lillibridge says elevated production costs continue to be his biggest concern. “Inputs are almost a cuss word for every farmer anymore,” he said. “There seems to be an excuse for why they are high priced every year and it’s very frustrating.”

Southwest Iowa farmer Ray Gaesser says grain prices haven’t been favorable. “The price of corn for a lot of people is now below the cost of production. That’s a big concern.”

But, Gaesser tells Brownfield, “Soybeans are still reasonably priced. I think most of them can be profitable.”

USDA recently said it’s expecting a $42 billion decline in net farm income for 2023.