Home > News > Government Payments Make Up One Third of Farm Income in 2020

Recent USDA data showed 2020 net farm income is expected to surge to beyond $100 billion for the first time in seven years, marking an almost $20 billion increase from 2019. That jump comes with a caveat, however; farm cash receipts are actually almost $14 billion lower than last year, but federal payments are almost $15 billion higher year-over-year. That means those largely direct payments account for just over 36% of the total farm income picture for 2020. Of the $37.2 billion total, $4.7 billion will be paid in ARC program payments, with $100 coming as PLC payments. Conservation program, LDP and marketing loan gains also contribute to the federal payment component of the 2020 farm income picture. See more here.

Subscribe

Be among the first to learn about the ever-changing crop insurance industry by subscribing to the ProAgMessaging system.