Record Farm Income Expected
(KTNC) - Net farm income this year will set a record high. Back in January USDA projected the income at 92-billion dollars. The new projection is 122-billion, a seven-percent increase.
USDA Chief Economist Joe Glauber says one reason for the increase is big crop insurance indemnity payments due to disaster and drought losses. He says another reason is higher commodity prices. (play audio :22)
While there will be a big increase in crop receipts this year, Glauber says conditions are much worse for livestock producers. (play audio :20)
The early projected feed increase was 13-percent but then came the drought which drove prices more than 30-percent higher.
© Nebraska Radio Network
MOST VIEWED STORIES
Three former Atchison Co employees arrested on felonies
Fentanyl find nets four in two Atchison cases
St. Joseph teacher arrested for student sex crimes
Barricaded fugitive arrested in Jackson County
Wanted felon arrested in Hiawatha
Four injured in Richardson Co rollover crash
Support sought for fire ravaged family
Ozawkie man facing multiple child sex charges
Fatal Atchison apt fire investigation continues
USD 415 board select new member
Armed felon found, arrested, in Jackson Co
Date set for signals switch at Hiawatha intersection
Public health advisory issued for local lake
State Board approves land transfer agreements
Sabetha man arrested on drug charges
4th candidate files for local KS House seat
Lancaster shooting, threats, land man in jail
Flood warning issued for Missouri River
LATEST STORIES
Flood warning issued for Missouri River
Valuation change notices coming soon for Nebraska residents
Falls City Hot Air Balloon Festival coming in June
NW MO bridge repair project delayed
Unemployment dips in April in SE Nebraska
Former KS AG files for Congress
Lancaster shooting, threats, land man in jail
Case dismissed in charity fraud allegations
RELATED STORIES
University of Nebraska Receives Grant for Drought Risk Research Center
USDA Boss Blasts Railroads for Rail Car Shortage
More Storms Possible this Weekend
Red Cross says Learn to Swim Before Heading to Pool or Lake
Rain Lessens Drought Concerns in Parts of Nebraska, Iowa
Morel Mushroom Season Underway in Nebraska
Nebraska Among States Considering Legalizing Industrial Hemp
Fewer Cancer Specialists Practicing in Rural Areas