USDA’s Economic Research Service forecasts inflation-adjusted U.S. net cash farm income (NCFI) — gross cash income minus cash expenses — to increase by $13.5 billion (8.7%) from 2021 to $168.5 billion in 2022. This is the highest level since 2012.
As of February 9, 2016, U.S. net farm income is forecast to fall to $54.8 billion in 2016 after recently peaking in 2013, due largely to declines in commodity prices.
In the face of volatile grain prices, uncertainty about depreciation rules, skepticism about a new farm bill and a lot of talk about farm equipment sales peaking, North American farm equipment dealers continue to see good potential for solid sales in 2014.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we have reports from both the Farm Equipment Manufacturers Supply Summit and the North American Equipment Dealers Association's Legislative Fly-In.
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