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US farm income higher, risks remain

An ag economist says the USDA is projecting a slight increase in net farm income in the US for 2022, but prices were also up.

University of Missouri’s Scott Brown says, “I don’t know an input that has gone down in price in the last couple of years as supply bottlenecks, labor shortages, and energy costs have all added to the bottom line here.”

USDA projects 2022 farm income to be $147.7 billion, up just over five percent from 2021.

US farm income higher, risks remain