Rural and Farm Finance Policy Analysis Center (RaFF)

Did you miss the release of the Fall 2024 State Farm Income Outlook reports? View the reports at: https://lnkd.in/grERWPn4 As pictured below, Nebraska net farm income is projected to decline by 17% in 2024.

Check out the graph below to see the change in Arkansas's net farm income in 2024! View the full report at: https://lnkd.in/grERWPn4

Kansas net farm income also sees decline in 2024, despite the increase in livestock receipts! View the full report at: https://lnkd.in/grERWPn4

IN CASE YOU MISSED IT! The Texas Farm Income Report for Fall 2024 is now available on RaFF's website, accompanied by Missouri, Kansas, Arkansas, Nebraska, Iowa, Illinois, and Minnesota, concluding the State Farm Income reports for Fall 2024. This report explores farm financial indicators and projections for the Lone Star State. Texas net farm income is projected to decline 17% in 2024, to $12.6 billion. An 8% increase in livestock receipts would only partially mitigate the negative effects seen in the crop sector throughout 2024. Find out more about the impact of farm receipts, production expenses and government payments by reading the full report and dataset. Available at: https://lnkd.in/gy9ATsb2

Missouri net farm income falls in 2024, but producers see relief in reduced production expenses and increased government payments. View the full report at: https://lnkd.in/grERWPn4

Have you heard about the 45Z Tax Credit? This tax credit, established in the Inflation Reduction Act of 2022, provides a tax credit for the production and sale of clean transportation fuel, by rewarding ethanol producers for achieving a carbon-intensity (CI) score below the qualifying threshold. Which in turn, could incentivize corn producers to consider climate-smart agricultural practices to produce low CI corn. To learn more about how the 45Z Tax Credit could benefit corn growers, visit: https://lnkd.in/gMnu2rWY

Next Up: Illinois! Co-published with University of Illinois Urbana-Champaign, the Fall 2024 Illinois Farm Income Outlook Report is now available on the RaFF website. This report is the 7th of 8 reports, which explores farm financial indicators and projections for the state of Illinois. Illinois net farm income is projected to hit $5.4 billion in 2024, a 31% decline from 2023's net farm income level. Total cash receipts decrease, despite slight increases in government payments and livestock receipts, as crop receipts drop 20% in 2024. Learn more about the impact of farm receipts, production expenses and government payments by reading the full report and dataset. Available at: https://lnkd.in/gy9ATsb2

The Nebraska Farm Income Outlook is now available! Co-published with UNL Center for Agricultural Profitability, the Fall 2024 Nebraska Farm Income Outlook Report is now available on the RaFF website. Alike others, this report explores farm financial indicators and projections for the state of Nebraska. Nebraska net farm income is projected to decrease to $7.69 billion in 2024, a 17% decline from the farm income level seen in 2023. Total cash receipts decrease, as the decline in crop receipts and government payments are only partially offset by the 6% increase in livestock receipts. Find out more about the impact of farm receipts, production expenses and government payments by reading the full report and dataset. Available at: https://lnkd.in/gy9ATsb2

Joining several other state reports, the Fall 2024 Minnesota Farm Income Outlook Report is now available on the RaFF Website, co-published by the University of Minnesota's Center for Farm Financial Management. Minnesota net farm income is projected to decline to $4.82 billion in 2024, a 6% decline from 2023. Total crop receipts are forecast to decline by 19%, offsetting the projected 4% increase in livestock receipts and 8% reduction in production expenses. Find out more about the impact of farm receipts, production expenses and government payments by reading the full report and dataset. Available at: https://lnkd.in/grERWPn4

RaFF just released the Fall 2024 Iowa Farm Income Outlook Report! The report is now available on the RaFF website, co-published with Iowa State University Extension and Outreach. Accompanied by other reports for other Midwestern states, this report explores farm financial indicators and projections for the state of Iowa. Iowa net farm income is projected to decline to $8.1 billion in 2024, a 12% decline from the farm income level seen in 2023. Total cash receipts decrease, as the 7% increase in livestock receipts is more than offset by the 19% decline in crop receipts. Find out more about the impact of farm receipts, production expenses and government payments by reading the full report and dataset. Available at: https://lnkd.in/gy9ATsb2