Farm income stabilizes after steep decline that began in 2013

U.S. farm income will tick upward this year, a sign of stability three years after the collapse of the commodity boom pushed income into a nosedive. Still, even with this year’s upturns, income will be a fraction of 2013’s peak, said the USDA.

U.S. farm income noses upward after three years of declines

Commodity prices are still in a trough but U.S. farm income is on the rise for the first time since 2013 because producers are sending more crops and livestock to market than initially expected, said the USDA. It forecast net cash farm income, a measure of liquidity, of $100.4 billion this year, far stronger than the February forecast of $93.5 billion, but only three-fourths of the record set in 2013.