US Farm Profits Hit 5-Year High on China Trade War Payments

President Donald Trump delivers remarks on supporting America's farmers and ranchers, flanked by Agriculture Secretary Sonny Perdue (C-L), at the White House in Washington, D.C. on May 23, 2019. Jim Watson/AFP/Getty Images

The U.S. Department of Agriculture forecasts that American net farm income will hit a five-year high of $88 billion in 2019 due to China trade war payments.

The USDA’s Economic Research Service projects that net farm income for the 2019 Fiscal Year (Oct.-Sept.) will hit $88 billion, up $4 billion, or 4.8 percent, from FY 2018. By the end of the year, the USDA expects net farm income to reach $88.8 billion.