By: Tony Dreibus, Successful Farming
Net farm income, a gauge of profits, is expected to drop 12% year-over-year in 2018 amid low crop prices and rising expenses, the U.S. Department of Agriculture (USDA) said in a report on Friday.
Profits are pegged at $66.3 billion this year, down from $75.4 billion in 2017, according to the USDA’s Economic Research Service (ERS). Adjusted for inflation, the decline will be 14%. Continue reading