Farm incomes are expected to drop this year and farmers are encouraged to protect working capital.
Farmer Mac senior economist Blaine Nelson says net farm incomes will likely end up below last year’s record levels.
“But still to a very profitable level, about 50 percent higher than the historical average. So I really want to drive home the point that the farm sector is doing really well.”
However, he tells Brownfield high input costs and rising interest rates are pressuring the bottom line.