The University of Missouri’s Food and Agricultural Policy Research Institute released its 2021 agriculture market outlook Friday projecting strong farm incomes for 2021.
FAPRI Director Pat Westhoff tells Brownfield while the outlook for 2021 farm income is strong, it comes in around $9 billion lower than last year.
“We do expect a drop in farm income this year as a $25 billion increase in crop and livestock receipts is offset by a sharp drop in government payments and a bit of an increase in production costs as well,” he said.
