Net Farm Income Expected to Drop 12% This Year, USDA Says

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

Trying To Beat Buzzer, Ag Groups Sign Letter In Hopes of TPP Rejoin

By: Ashley Davenport, Farm Journal

Three days after President Trump was inaugurated, one of his first exercises of presidential power was withdrawing the U.S. from the 12-nation Trans-Pacific Partnership (TPP).

The remaining 11 nations are expected to sign the final trade agreement in March, and now U.S. farmers and ranchers are pushing for a last-minute rejoin. Continue reading