Growing Trouble: Farm income drops as debt and machinery prices escalate
Farmers are struggling with low commodity prices and skyrocketing input costs, resulting in debt that is outpacing income across the sector, according to the USDA’s new farm income forecast.
A new farm income forecast from the Economic Research Service (ERS) is out this week, showing a several billion dollar decline from estimates earlier this year. But in a call with farm reporters, U.S. Senator Chuck Grassley (R-IA) said it’s still too early to tell if farmers will need a bailout.
Farm sector profits forecast to grow in 2025
USDA, Economic Research Service, Farm Income and Wealth Statistics, Data as of Sept. 3, 2025
The income forecast indicates the amount of cash farmers and ranchers have available this year, which is less than the U.S. Department of Agriculture (USDA) estimated in February.
Also, a large number of borrowers are reporting trouble at the farm. New federal numbers show more banks are realizing some loans likely won’t be paid back.
Machinery Costs Break the Bank
Machinery costs are just one input cost that has increased over the last couple of years. Several universities have researchers looking into it, and they’ve found a 10% jump for some models.
In this behind-the-scenes look at the newest episode of Where the Food Comes From, “Simple as Corn, Part 1,” written by show producer and script supervisor Donna Sanders, follow the crew during their time filming in Sun Prairie and Coloma, Wisconsin.
The start of the review of the most important ag law and tax developments of 2023—that is the topic of today’s Firm to Farm blog post by RFD-TV agri-legal expert Roger A. McEowen
As we start the new year, let’s take a look at some of the legislative items from 2023 affecting agriculture that will continue to play out in the political area for months to come.
Beekeepers across the nation face a common challenge during winter—helping bee colonies survive the harsh conditions. Now, a new product developed by an innovated apiarist is changing the game. Enter, the Hive Hugger.
Raising crops requires hard work and dedication, and the same can be said for raising a child. In Virginia, a group of moms is leading the way in combining nurturing with farming.
The amendments affect BLM lands in several Western states. Comments on the Sage grouse proposals can be made to the BLM National NEPA Register until Oct. 3.
Mike Formica with the National Pork Producers Council joined us on Market Day Report with his reaction to the EPA’s rollback of a Biden-era wastewater discharge mitigation plan.
FarmHER + RanchHER host Kirbe Schnoor joined us on Market Day Report to talk about the show’s seventh season, which premieres Thursday night only on RFD-TV!
