By Dusty Sonnenberg, CCA, Ohio Field Leader: a project of the Ohio Soybean Council and soybean checkoff.
Agricultural Financial Conditions and an Outlook for 2021 were the topics of Day one of the 2020 Agricultural Policy and Outlook Conference sponsored and hosted by The Ohio State University Department of Agricultural, Environmental and Development Economics.
Dr. Ani Katchova, Associate Professor and Farm Income Enhancement Chair began the program by discussing overriding themes in current farm income and the finance outlook.
“U.S. net farm income and net cash income are forecast to increase for 2020, which is a fourth consecutive year,” said Katchova. “This growth in farm income is mainly driven by higher government payments, while livestock receipts are expected to be lower as we close out 2020.”
Farm income in Ohio has been 2.4 – 2.5% of U.S. farm income but with higher volatility over the last decade.
“U.S. net cash income is forecast to increase by 4.5% and U.S.… Continue readingRead More »