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Tag: farm income
USDA Report Shows Total Household Income Has Risen For Commercial Farms Jan 14, 2023
From 2015 to 2021, the median total household income for commercial U.S. farms rose an estimated 16 percent, to $278,339 from $238,994. Commercial farms earn more than $350,000 gross cash […]
U.S. Farm Sector Capital Expenditures Dec 5, 2022
In response to relatively stronger net farm incomes, U.S. farm sector capital expenditures have increased dramatically in the last three years. In 2019, farm sector capital expenditures were approximately $30.1 […]
4 Highly Effective Financial Habits for Farmers Nov 2, 2022
Use your accounting processes to evaluate, forecast and plan Think about how your farm has grown in size and scope in the past decade. Has your financial reporting followed suit? […]
When Creating 2022 Crop Budgets, Keep in Mind Family Living Costs Oct 24, 2022
In 2020, the total noncapital living expenses of 1,088 farm families enrolled in the Illinois Farm Business Farm Management Association (FBFM) averaged $76,672–or about $6,400 a month for each family […]
Ag Economy: The Importance of Off-Farm Income Sep 21, 2022
CoBank’s Knowledge Exchange division, in partnership with the University of Missouri, released a report yesterday titled, “The Importance of Off-Farm Income to the Agricultural Economy.” Today’s update includes highlights from […]
September Farm Sector Income Forecast Sep 4, 2022
The USDA’s Economic Research Service (ERS) indicated on Thursday that, “Net farm income, a broad measure of profits, is forecast to increase by $7.3 billion (5.2 percent) from 2021 to $147.7 billion in calendar year 2022.” “Net […]
Kansas Farmers Saw Record Net Income in 2021 May 18, 2022
A combination of farmers buying inputs at lower prices in late 2020 and capitalizing on strong crop yields and robust grain prices in mid-2021 has led to the highest net […]
Rice Farmers Across U.S. Face Extreme Financial Losses in 2022 May 18, 2022
This week, the Agricultural and Food Policy Center (AFPC) at Texas A&M University released a study on the impact of commodity price changes and higher input costs on its 64 […]
Kansas Farm Income Losses Vary Year to Year, Says Study Apr 14, 2022
Even when times are good, some Kansas farmers are losing money. It’s the nature of a business that is often at the mercy of weather, disease, fluctuating markets and more. […]
Farm Finances: Increasing Interest Rates Likely to Pressure Ag Income Mar 22, 2022
The U.S. Federal Reserve has begun to raise interest rates to dampen inflation. Higher rates imply higher interest expense, assuming no other change. This article explores the role of farm […]
