The USDA projects net farm income (NFI) to increase $18.3 billion from 2019. The jump of 21.7 percent brings the government projected net farm income total to $102.7 billion in 2020. Much of the increase is thanks to income from disaster and COVID-related government farm payments, which are up 64.4 percent, an increase of $14.6 billion.

The agency expects cash receipts from farm commodities to decline 4.1 percent, a decrease of $15.2 billion, but a projected 2 percent drop in production expenses – down $7.3 billion – along with the greater government payments, contribute to better income.

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