The USDA has lowered its 2019 and 2020 farm income estimates by $4.1 billion and $26.6 billion.
University of Missouri’s Scott Brown says part of the reason for the downward revision is “crop cash recipes were revised downward by $11.8 billion but then also cash expenses were increased by $11.7 billion dollars. The combination of those things led to the revisions.”
He tells Brownfield the rise in government payments didn’t have the anticipated impact on farm income in 2020.
