Big Adjustments: The Latest USDA Net Farm Income Estimates

The USDA recently released the latest estimates of sector-level net farm income. These data provide an overall measure of the economic and financial conditions of the agricultural sector. The latest forecast revealed a much higher forecast of net farm income than previously estimated. Those who regularly monitor these data – as Brent and I do – were surprised by the large, upward adjustment to sector income. This week we take a look at the latest data, the adjustments, and the implications moving forward. (more…)