Farm Income to Fall Amid Rising Food Prices
While America’s families continue to deal with record-high grocery prices, farm families can expect to see a drop in income in 2023. American Farm Bureau Federation economists analyzed USDA’s Farm Sector Income Forecast in their latest Market Intel report. U.S. net farm income is forecast to fall almost 16% from last year, while costs are expected to increase more than 4%, on top of a record increase in production expenses last year.
Increased operating costs, lower prices for livestock and crops, and the end of pandemic-related assistance are among...
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