United States net farm income in 2024 was $137 billion, falling slightly below the United States Department of Agriculture ‘s (USDA) September forecast and $9 billion lower than the 2023 figure, according to the latest update of the annual U.S. farm income and consumer food price report by The Food and Agricultural Policy Research Institute (FAPRI) at the University of Missouri. Further declines in income are projected in 2025 as some moderation in production expenses and high cattle prices are not enough to offset the impact of lower crop prices.

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