U.S. farm income to fall 38 percent in 2015 to 13-year low: USDA

Wednesday, November 25, 2015


U.S. farm incomes are expected to drop 38 percent in 2015, the steepest year-on-year drop since 1983, due to lower crop and livestock prices, the U.S. Department of Agriculture's Economic Research Service (ERS) said on Tuesday.

Incomes are forecast to drop for a second straight year to $55.9 billion, which if realized would be the lowest level since 2002, signaling further pressure on sellers of agricultural inputs, equipment and land.

The updated forecast was down from an August estimate for $58.3 billion and 55 percent below a record $123.3 billion in 2013 when near record-high crop prices boosted farming profits.

 

http://www.reuters.com/article/2015/11/24/us-usa-farming-outlook-idUSKBN0TD2NA20151124?utm_content=buffer7aafb&utm_medium=social&utm_source=linkedin.com&utm_campaign=buffer


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