Missouri Farm Income Expected To Decline This Year

Missouri’s net farm income will likely drop 18-percent this year to three-point-six-billion-dollars, according to the Spring 2024 Missouri Farm Income Outlook. Those numbers compare to an estimated 25-percent decrease in U.S. net farm income. Scott Brown, the center’s interim director tells Missourinet that it’s not something to be alarmed about…

The decline is due to reduced livestock inventories, lower crop prices, and declining market receipts. Despite a decrease in the production costs, the prices for purchased livestock, seed, labor, taxes, and consumption continue to increase.