FAPRI: Lower Government Payments and High Input Costs Impact Income
This year’s farm income will likely be down from what was seen in 2020. However, the Food and Agricultural Policy Research Institute at the University of Missouri expects this year’s net farm income to be much higher than what it was from 2015-to-2019. Net farm income is forecast to come in at $112 billion for […]
Positive Balance Projected for Minnesota in Latest Economic Forecast
Today, Minnesota Management and Budget released the 2021 February Economic Forecast for the state. There is no longer an anticipated shortfall for Fiscal Year 2022-23. Now, Minnesota projects a positive balance of $1.6 billion because of a higher revenue forecast, lower state spending and an increased surplus for the current fiscal year. View the presentation.
Farm Credit Conditions Improve
There was a dramatic improvement in farm credit conditions for the Upper Midwest region in the final three months of 2020. More than three-quarters of the agricultural lenders surveyed in the fourth quarter by the Federal Reserve Bank of Minneapolis reported an increase in farm incomes. Just under half of the lenders said loan repayment […]
In a Down Ag Economy, Focus on What You Can Control
In today’s current economy, the average and below average business managers are at risk. Virginia Tech professor emeritus Dr. David Kohl made that point at a Bell Bank event in Fergus Falls and Moorhead. Kohl said farmers must know their numbers, monitor finances and execute a marketing and risk management plan. “You’re not going […]
