(USDA) As Farmers across the country and here in North Central Montana close the books on 2023, many are showing that overall United States farm income came down significantly according to USDA Chief Economist Seth Meyers.
“But it came down from a level in 2022 that was record high.”-Meyers
Net cash income for U.S. producers this year will come in at just under 158 billion dollars, a twenty one percent drop from 2022 but still above the average of the last couple of decades.
“And an interesting fact here is also that the last three consecutive years of farm income are the highest three farm income years in my lifetime.”-Meyers
The income report shows that 2021, 2022 and 2023 are the highest three consecutive years in fifty years.
