This week, the U.S. Department of Agriculture (USDA) its net farm income forecast for 2018, and it could be the industry’s worst in more than a decade.
USDA anticipates net farm income, a broad measure of profits, to decrease nearly 7 percent from 2017 to $59.5 billion, the lowest net farm income number since 2006. Net cash farm income is also forecast to decrease down about 5 percent to $91.9 billion, the lowest level since 2009.
This leaves many wondering how to make money in 2018.
AgDay national reporter Betsy Jibben discusses with Brian Basting, analyst with Advance Trading; Chip Flory, Farm Journal Economist and AgriTalk and AgriTalk After The Bell host; Jarod Creed, analyst of JC Marketing; Craig VanDyke, market analyst with Top Third Ag Marketing; Rod Alt, senior vice president and branch manager with Farm Credit Services Southwest in Tempe, Arizona; and Kevin Good, senior analyst with CattleFax.