U.S. farmers are expected to earn $65.7 billion in net income in 2018, which is $9.8 billion less than the $75.5 billion they earned in 2017, according to new figures from the U.S. Department of Agriculture's Economic Research Service. Net farm income includes depreciation, rental income, and changes in inventory.
"In comparison to better days, net farm income in 2013 was $123.8 billion before the numbers began trending downward. 2018 is higher the recent floor, which was $61.6 billion in 2016," Chris Clayton reports for DTN/The Progressive Farmer. "A narrower figure, "net cash farm income," is projected to fall $12.4 billion to $91.5 billion for the year. Net cash farm income takes into account cash receipts from farming as well as government payments, minus cash expenses."