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Tag Archives: farm income

FARM INCOME: LOWER THAN 2016, BETTER THAN EXPECTED

Overall net farm income in 2017 – forecast at $60,000 per farm – is lower than the 2016 average income of about $94,000 per farm, but is still better than expected and could have been much worse, according to Gary Schnitkey at farmdoc. Still, Schnitkey writes, deterioration of working capital on most farms should be… read more

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FARMERS TIGHTEN THEIR BELTS

Now in the fourth straight year of dipping farm income, U.S. farmers are slashing input costs to compete with Latin American farmers – and stay afloat. According to Reuters, farmers cut $40.2 billion to bring total costs down to $350.49 billion between 2014 and 2016. But cutting seed and fertilizer is putting farmers in a… read more

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CASH RENT DEFAULTS

Faced with declining profits, some Iowa farmers are defaulting on cropland rents — a largely unheard of move given the intense competition for the state’s fertile farmland and a sign that financial pressure and debt are mounting.

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FARMER CONFIDENCE LOWER

Farmers are feeling glum about current conditions and don’t see much room for improvement in the year ahead, according to the DTN/The Progressive Farmer Agriculture Confidence Index. The latest reading of the index came in at 92.7, compared to 99.4 in August and 103.4 in December 2014. USDA is forecasting 2015 farm incomes will be… read more

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FARM MACHINERY SALES DOWN IN 2015

With producers facing what the U.S. Department of Agriculture has estimated as the worst year for farm income in a decade, the sale of farm machinery is down across the board. The Association of Equipment Manufacturers said U.S. sales of 100-plus horsepower tractors were down 23.6% in 2015. Sales of four-wheel drive tractors were down… read more

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ILLINOIS GRAIN FARM INCOME DOWN 81% THIS YEAR

A sharp drop in Illinois grain-farm income for 2015 could continue for several years as a result of low commodity prices, according to University of Illinois projections released Wednesday.  The average $20,000 profit projected this year compared with $104,000 in 2014 would be at levels not seen since 1998 through 2002.  The 81% drop follows… read more

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FARM OUTLOOK

In 2015 & 2016, average net incomes on grain farms in Illinois are projected at levels similar to those from 1998 through 2002, the last time very low incomes occurred in agriculture. Current projections place average net income on Illinois grain farms at about $20,000 per farm, considerably below the $104,000 per farm average for… read more

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FARM INCOME

USDA forecasts that both net cash and net farm income for 2015 will be below their 10-year moving averages in inflation-adjusted terms for the first time since 2009.

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FARM OUTLOOK

Projected gross revenue for corn stands at $814 per acre, down from $864 per acre in June on highly productive central Illinois farmland.  University of Illinois economists now project lower gross revenue and lower total non-land costs due to continued decreases in corn and soybean prices. More at FarmWeekNow.com.

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INTEREST COSTS

If net farm income trends lower and farm debt levels trends higher into 2016, interest expense may account for an even larger share of total earnings, Ag economist David Widmar says. He says these are trends that will likely make the financial situation in agriculture less comfortable than it has been for some time.

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