Sunday, May 26, 2024

Mizzou report predicting drop in farm income

By Elizabeth Bobenhausen Poultry Times staff ebobenhausen@poultrytimes.com

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GAINESVILLE, Ga. — The Spring 2024 Missouri Farm Income Outlook predicts that there will be a sharp drop in farm income. The report was released by the University of Missouri’s Rural and Farm Finance Policy Analysis Center (RaFF).

The data for the report is gathered by using farm receipts and production expenditures. Decreasing receipts and low crop costs illustrate the approximate $800,000 drop in net farm income for 2024.

Scott Brown, RaFF interim director, said, “Although decreased production expenses offer some relief, reduced livestock inventories and lower crop prices are impacting Missouri producers, leading to the projection. . .

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