AFBF: USDA Slashes 2025 Farm Income Outlook, Sets Baseline for ‘Significant Pressure’ into 2026

Danny Munch of the American Farm Bureau joined us to discuss USDA’s latest farm income forecast, revisions to prior estimates, and what the updated data means for farmers heading into 2026.

WASHINGTON, D.C. (RFD NEWS) — The U.S. Department of Agriculture (USDA) released its first Net Farm Income Forecast since September, providing an early look at the financial conditions facing farmers in 2026. The report also includes revisions to USDA’s previous estimates for 2025, reshaping how last year’s farm economy is viewed and establishing a new baseline for the year ahead.

American Farm Bureau Federation (AFBF) economist Danny Munch joined us on Friday’s Market Day Report to break down the latest forecast and what it signals for the broader farm economy.

In his interview with RFD NEWS, Munch explained that the new outlook offers insight into how producers may fare financially in 2026, as income pressures continue across much of the agricultural sector.

The updated report also revises figures released last fall, and Munch highlighted how the new numbers differ from the September forecast. Those changes reflect shifts in commodity prices, production costs, and government payments that altered the final picture of farm income in 2025.

Munch addressed how rising farm debt and ongoing income declines are affecting farmers, and how producers are adjusting their operations and financial strategies to manage continued economic pressure.

Related Stories
NCBA CEO Colin Woodall says more conversations need to occur with stakeholders present surrounding President Trump’s proposal to lower consumer beef prices with Argentinian imports.
While artificial intelligence, or AI, is reshaping both jobs and messaging in agriculture, CoBank data suggests human expertise still matters.
Bubba and Amy Miller run Miller Cattle Company in Eros, Louisiana. After visiting other homesteading fairs, they decided to put on their own.
The new AFBF Women in Agriculture survey is accepting responses from women in the industry across the United States now through March 31.
University of Nebraska–Lincoln (UNL) representative Dr. Dirac Twidwell joins us with the latest on woody encroachment conservation efforts in the Great Plains.
API said it stands ready to work with Congress to develop a balanced approach to E15 legislation that promotes fuel choice, supports investment certainty, and contributes to a stable and fair marketplace for American consumers.

LATEST STORIES BY THIS AUTHOR:

RFD-TV farm legal expert Roger McEowen digs into the details on how to make your rural property dreams a reality — and avoid a living nightmare.
The facility will increase the range of sterile fly release and bolster preparedness for New World Screwworm.
David Hardin with the Indiana Soybean Alliance discusses USMEF’s push to open new global export markets for both meat and soy-based feed.
Some sustainability shifts are not particularly challenging and can be implemented with resources already available to farmers and ranchers on their operations.
The government reopens after 43 days. USDA resumes key reports, weighs farm aid, and watches China’s next move on U.S. soybean purchases.
Jeramy Stephens with National Land Realty shares tips for fall and winter to guide landowners and farmers.