An ag economic service is estimating higher farm incomes this marketing year.
Head of the University of Missouri’s Food and Agricultural Policy Research Institute Pat Westhoff tells Brownfield expected strong global demand for U.S. ag goods and production concerns from competitors has U.S. ag producers positioned for the highest farm income since 2013.
“That results in a much higher level of farm income than we would’ve said previously,” Westhoff said. “Prices moderate in front of us, and farm income falls back again in subsequent years.”
Westhoff said overall farm income increased nearly 30 percent over 2021.
