High-Country Health Food and Cafe in Mariposa California

CASA
'Click' Here to Visit: 'Yosemite Bug Health Spa', Now Open.
'Click' Here to Visit: 'Yosemite Bug Health Spa', Now Open. "We provide a beautiful and relaxing atmosphere. Come in and let us help You Relax"
'Click' for More Info: 'Chocolate Soup', Fine Home Accessories and Gifts, Located in Mariposa, California
'Click' for More Info: 'Chocolate Soup', Fine Home Accessories and Gifts, Located in Mariposa, California
'Click' Here to Visit Happy Burger Diner in Mariposa... "We have FREE Wi-Fi, we're Eco-Friendly & have the Largest Menu in the Sierra"
'Click' Here to Visit Happy Burger Diner in Mariposa... "We have FREE Wi-Fi, we're Eco-Friendly & have the Largest Menu in the Sierra"
'Click' for More Info: Inter-County Title Company Located in Mariposa, California
'Click' for More Info: Inter-County Title Company Located in Mariposa, California

cows usda
Credit: USDA

February 11, 2024 - Farmers can expect the largest recorded year-to-year dollar drop in net farm income in 2024. Income is estimated to be nearly $40 billion lower this year compared to 2023, down more than 25%. American Farm Bureau Federation economists analyzed the latest USDA data in a Market Intel.

Net farm income is the profit farmers see after paying for operating expenses. Two major factors are impacting income forecasts – lower prices paid to farmers for crops and livestock, and increased costs for supplies. While these are early estimates and they could change throughout the year, USDA anticipates a decrease in net farm income, moving from $156 billion in 2023 to $116 billion in 2024.

“Farm families are suffering through the same economic hardships as all families in America,” said AFBF President Zippy Duvall. “High inflation is making the food farmers grow more expensive to produce, and is cutting into the income farm families rely on to pay bills, provide an education for their children, and reinvest in their community. We urge Congress to focus on bringing costs down and passing a new farm bill, both of which will help ensure farmers can continue meeting the needs of a growing nation.”

The Market Intel explains, “Cash receipts for crop and livestock sales are expected to move from $507 billion in 2023 to $486 billion in 2024 for a loss of $21 billion (4%). The forecast decline in crop receipts explains nearly 80% of this difference, signaling a weaker incoming year for row crop prices.”

Production expenses remain stubbornly high as well. Transportation, labor, pesticide and fertilizer costs are all hitting farmers’ bottom line. Production expenses are estimated to increase 4%, or $16.7 billion, in 2024, totaling $455 billion in 2024.

Read the full Market Intel here.

Get Market Intel sent directly to your inbox. Click here to subscribe.
Source: American Farm Bureau Federation