Farm profits expected to fall in 2018 - WGEM.com: Quincy News, Weather, Sports, and Radio

Farm profits expected to fall in 2018

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Net cash farm income for this year is forecast at almost $92 billion. Net cash farm income for this year is forecast at almost $92 billion.
In the USDA report, soybeans and cattle/calves will fare relatively well in 2018. In the USDA report, soybeans and cattle/calves will fare relatively well in 2018.
Farm profits are expected to decline in 2018. Farm profits are expected to decline in 2018.
QUINCY, Ill. (WGEM) -

More money going out, less money coming in. That's the latest from the USDA as farm profits are expected to fall this year. 

Net cash farm income for this year is forecast at almost $92-billion. That's down 5.1% from last year, according to the USDA.

The net farm income is estimated at about $60-billion, the lowest since 2006. 

"It's a matter of total dollars per acre," said Rick Edwards, president of the Adams County Farm Bureau . "With expenses being somewhere at $350 an acre to put it out of pocket cost, there's just not a lot of margin error. You're not going to make a lot of money."

In the USDA report, soybeans and cattle/calves will fare relatively well in 2018. Receipts for most other major crops and livestock groups, particularly cotton and dairy, will decline.

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