I-States Suffer More than 60% Loss of Income

January 14, 2019 02:57 PM
 
Farm incomes have been on a steady decline since their peak in 2013. Just how much incomes are depressed varies, sometimes greatly, by state.

Farm incomes have been on a steady decline since their peak in 2013. Just how much incomes are depressed varies, sometimes greatly, by state.

The most current USDA ERS data showing farm incomes dates back to 2017, but still tells a compelling story. David Widmar, of Agricultural Economic Insights, compares farm incomes from the 2011 to 2013 boom to the average of 2016 and 2017.

“At the national level, net farm income has declined 42% across these two periods,” he said in a recent post. The Midwest was hit hard, with I-States falling by more than 60%, and areas outside of the Midwest fell even harder.

 

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Efficiency and smart spending will continue to be imperative with no immediate end in sight for low prices.

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Comments

 
Spell Check

Matt DeWitt
Blackwell, OK
1/14/2019 07:15 PM
 

  What do you call a basement full of farmers? A wine cellar!! Just plant more corn and beans.....Duhhhhhhhhhh

 
 
Mary
Wichita, KS
1/15/2019 09:28 PM
 

  Matt is a funny guy. Say something funny about Greg.

 
 
kerr lee
Scottsboro, AL
1/29/2019 02:30 PM
 

  Just read here the other day that the median farm family income was around $75,000 and the median farm family income from farming was -$800. So, what do these new numbers mean? If we assume that the median and average from farming are even close, the average is so close to 0 that -60% is pretty close to +60%. On the other hand, if we're now talking about income from all sources, that -$800 income from farming has gone to about -$40,000. Or maybe the median and average are not even close, in which case these articles tell us nothing. You publishing guys need to give us a hint.

 
 
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