Net Farm Income Will Drop 26% In 2014: USDA

Net Farm Income Will Drop 26% In 2014: USDA


Spencer, IA: (Feb. 12, 2014) – The U.S. Agriculture Department expects net farm income this year to be $95.8 billion dollars, the lowest level since 2010, due to a sharp decline in corn and soybean prices.

The USDA says net farm income will decline due to an almost $11-billion decline in corn receipts and a decline of more than $6-billion in soybean receipts.

As tough as that sounds, it is a set-back from record territory. Farm income roughly doubled from 2006 through 2011 as rising global demand drove prices higher. Farm income last year was just over $130-billion, a nominal all-time high.

Local Headlines

in Local

Dolliver Motorcycle Accident

Car Accident Glass

An Emmetsburg man is injured in a motorcycle accident...

in Local

Cherokee Tyson Plant Closing

News Breaking News

Tyson Foods plans to close its plant in Cherokee....

in Local

King To Texas

steve king

Iowa Congressman Steve King says he'll travel to Texas this weekend to learn more about a surge in unaccompanied children from other countries who are entering the U.S...

in Local

Governor on Ethanol


Gov. Terry Branstad is renewing a call to maintain the amount of ethanol in the nation's fuel supply, after a report that the Environmental Protection Agency may scale back proposed cuts to renewable fuel production...

in Local

Law Enforcement Reports


Law Enforcement Reports...