2021 Farm Income Forecast is out, it will be an above-average year
USDA is out with its first “Farm Income Forecast” of 2021 and it could be an unusual year.
Economists say that it will be above-average, even though income will be lower than 2020. USDA predicts a net farm income cash of nearly $130 billion dollars.
That is down six percent from last year, mostly because government payouts are expected to trail off. However, commodities prices are much higher right now.
Economists predict total cash receipts will be up $20 billion dollars. That will mostly come from hogs, corn, and beans.