With the Meter Running, Remedies to Stanch Declining Farm Income Idle in Stalled Farm Bill

US agricultural revenues decreased $80 billion in 2023 with lower 2024 earnings forecast, marking the nation’s ‘largest two-year decline’ ever in farm income.

Real Estate Auction Sign for a family farm on Dec. 30, 2023..

The United States Department of Agriculture (USDA) estimates net farm income in 2023 decreased by 27.1 percent and that all agricultural sectors nationwide will generally see lower farmer incomes in 2024.

If that projection proves correct, another year of dropping revenues added to 2023’s estimated $80 billion loss “will be the largest two-year decline in net farm income of all time” for American farmers, said Sen. John Boozman (R-Ark.).