2019 Net Farm
Yes. 2019 nineteen U.S. net farm income ledger will show a rise from 2018 by $8.5 billion to a total of ninety two point five billion, about a 10 percent increase. But Agriculture Department chief economist Rob Johanson says that might be a little misleading. Actual cash taken in by farmers from sales fell below 2018 by over four and a half billion dollars or 1.2 percent. Now, farmers did get a little help from a 1.6 percent drop in production costs. But what took farm income over 2018 level was extra help from the government, such as the trade assistance payments or the official title. The market facilitation program additive roughly about 10 billion dollars to 2019 income. And then we also had the wildfire hurricane and indemnity program (WHIP) plus much higher crop insurance payments. Johansen says take all that away...and for 2019, you actually saw a decline in farm income by about 6 percent. USDA will not make a 2020 income projection until late February.