Missouri farm income to drop 11% this year

Missouri farmers will have a projected decrease in net income of 11% in 2023, according to a University of Missouri analysis.

After a record-setting net income for Missouri farmers in 2022, declining crop receipts and “stubborn production expenses” are leading to a projected decrease of $530 million this year, the Rural and Farm Finance Policy Analysis Center at the university is reporting. The organization’s farm income report provides insights into the factors affecting income, such as farm receipts, production expenses and government payments.

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