The USDA expects 2020 net farm income to reach $120 Billion dollars but American Farm Bureau economist John Newton calls it a ‘false positive,’ “Because when you look at the $120-Billion you’d think that the farm economy was doing fantastic but cash receipts from crop and livestock sales actually declined $3-Billion and are at the lowest level since 2016.”
Production expenses are down slightly which Newton says helps a bit but the money’s not coming from the marketplace.
