- In inflation-adjusted 2019 dollars, net farm income (a broad measure of profits) is forecast to hit $92.5 billion this year.
- If the forecast is correct, 2019 net farm income would be 2.8% above the 2000-2018 average of $90.1 billion, but 32.3% below its $136.6 billion peak in 2013.
- Net cash farm income (a more precise measurement) is predicted to increase 15% from last year ($15.5 billion), to a total of $119 billion.
- Inflation-adjusted net cash farm income is predicted to increase 12.9%, or $13.6 billion, from 2018. That would put 2019 farm income 10% higher than the 2000-2018 average of $108.2 billion.
- Direct payments to farms from the government are expected to total $22.4 billion, which is $8.8 billion higher than in 2018—a 64% increase. If correct, government payments would account for about 24% of all farm income, the largest share in more than a decade.
- Farm debt is predicted to grow by $13.5 billion in 2019, or 3.4%.
- Farmers' financial stability is predicted to decrease slightly in the past year as the debt-to-asset ratio, a key measure of financial stability, is expected to increase slightly from 13.28% in 2018 to 13.42%.
- Total receipts for animals and animal products are expected to be largely unchanged as increases in milk and hog sales are almost offset by poultry and egg sale declines.
- Adjusted for inflation, total cash receipts are expected to decline $4.6 billion, or 1.2%, because of a $3 billion drop in animal/animal product receipts and a $1.7 billion decline in crop receipts.
from The Rural Blog https://ift.tt/2RiOlih Trade bailout payments predicted to account for nearly a quarter of all farm income in 2019, according to USDA report - Entrepreneur Generations
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