USDA forecasts smaller drop in 2024 farm income as production expenses ease

Quick Summary:

USDA now estimates this year's net farm income, a broad measure of profitability in the agricultural economy, will hit $140 billion in 2024, down 4.4% or $6.

Meanwhile, cattle prices soared, dairy prices turned higher and the spread of avian influenza has led to supply constraints for eggs, Litkowski said.

For example, fertilizer expenses are now expected to ease as crop farmers look to cut production costs.

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Category: BusinessFinance

Markets: India

Topics: Department of Agriculture Farmer's life Farm income USA Productivity

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-06 @ 09:40:03 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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