Farm Profits Won’t Be Replicated Till 2030
If U.S. farmers were hoping to replicate their profits from 2020 they could be waiting a while. Farm profits soared to a seven-year high thanks to government aid related to the pandemic and the trade war. These direct federal assistance payments accounted for more than a third of U.S. farmers’ $121.1 billion in net income last year. (Bloomberg)
Despite a continuous rise in sales through 2030, the USDA forecast profits would be lower, dropping to $100.1 billion this year and then fluctuating in a range between $99.3 billion and $109.8 billion through 2030.
It should be noted that the USDA projections assume no change in current government policy.
