The USDA projects farm income will be nearly $70 billion in 2019, up 10 percent.
American Farm Bureau Chief Economist John Newton says
there are several reasons for the projected increase..
“More support in some of the commodity markets like corn- higher prices there and for cattle and slightly higher prices for milk,” he says. “And then you tie that back to trend yield, that’s really where USDA is getting this estimate and a slight decline in production expenses.”
But he says it’s still early and that estimate could
change.
Continue reading Farm income is expected to rebound in 2019 at Brownfield Ag News.
