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University of Missouri analysts optimistic about U.S. agriculture markets

Christian Fernsby |
Farm income could decline in 2021, in spite of large increases in the value of crop and livestock sales, according to the latest analysis from the University of Missouri.

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Topics: U.S.   

Analysts at the University of Missouri explain that lower government payments and higher farm production costs could outweigh the increase in sales, according to a new report.

Even with the decline projected by analysts at the Food and Agricultural Policy Research Institute (FAPRI), net farm income of $112 billion in 2021 would still be much higher than it was from 2015-2019.

Net farm income increased to $121 billion in 2020, the highest level since 2013, primarily because of $46 billion in government payments.

Increasing imports by China explain much of the recent strength in grain and oilseed markets. If China’s purchases continue at the recent pace, U.S. exports and market prices could be higher than projected.

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