Farm Income

Trade wars and tariffs put pressure on U.S. farmers and ranchers, affecting both exports and imports. Global market uncertainty leaves producers vulnerable, raising costs and impacting the food system.

Farmers face a tough year as tariffs, fertilizer shortages, and trade wars impact crops, livestock, and costs, with some wary of political interference and government policies.

The USDA faces criticism for cuts and delays affecting farmers, including staff reductions and frozen funds. The bird flu crisis also raises concerns over vaccination plans for poultry.

Farm income is projected to drop sharply in 2024, raising concerns among producers, while McDonald's lawsuit against beef giants over alleged price-fixing could bring changes to the industry.

Over the past few months, the agricultural economy faces challenges with predicted drops in crop receipts and government payments. However, net farm income projections for 2024 have increased by $3 billion. Tractor sales are down, and economists are concerned about retreating crop prices. Meanwhile, demand for beef remains strong, and lower grain prices benefit livestock producers. A Farm Progress Magazine survey shows high demand for graduates in various agricultural majors due to their practical, hands-on education.