Cornhusker Economics

North Central Extension Risk Management Education Center

After several years of growing agricultural prosperity and U.S. net farm income that peaked at almost $124 billion in 2013, the most recent forecast from the UDSA Economic Research Service projects net farm income at less than $70 billion for 2019. The six-year cumulative decline since 2013 is primarily due to a drop in commodity prices, a result of growing supplies, and more recently, trade conflicts and declining exports for key commodities. While the aggregate financial position of U.S. agriculture remains relatively strong with an aggregate debt-asset ratio of less than 14% (USDA-ERS, 2019), total debt has grown while profit margins have shrunk, putting more pressure on management decisions and putting more operations at financial risk.

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2019 Cornhusker Economics

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