California Farmland Values Drop and Off-Farm Income Keeps Farms Running
From the Ag Information Network, this is your Agribusiness Update.
**The value of some California farmland declined from 2023 to 24, according to figures from the American Society of Farm Managers and Rural Appraisers.
The report attributes the declines to multiple factors, including low commodity prices, high inflation and interest rates, overall high operating costs and regulations.
Restrictions under California’s Sustainable Groundwater
Management Act have caused some of the steepest value declines, with some San Joaquin Valley farmland losing more than half its value.
**For most U.S. farm households, off-farm jobs help keep their operations running.
In 2023, an American Farm Bureau Report said 23% of farm household income comes from farming, which means 77% comes from other sources.
96% of farm operators earned money from off-farm sources.
About 72% of the off-farm income comes from things like wages and non-farm business income.
The other 28% comes from sources like Social Security, veteran’s benefits, pensions, dividends, and interest.
**Ag Secretary Brooke Rollins applauded the International Dairy Foods Association announcement for its “IDFA Healthy Dairy in Schools Commitment.”
It’s a voluntary, proactive pledge to eliminate certain coloring in milk, cheese, and yogurt products sold to K-12 schools for the National School Lunch and Breakfast Programs beginning next year.
Rollins said America’s dairy farmers and milk processors have always led the way in providing for our families and schoolchildren.
