Farm Revenue on Rise and Harvey Damage to Farms
**It’s been three long years of decline, but now, according to the latest forecast from the USDA’s Economic Research Service, farm revenue is expected to rise this year, slightly.
According to the ERS, net cash income for farmers is now forecast to reach $100 billion, about 13% more than farmers made last year. Net farm income, similar to the cash indicator, but including money earned from selling older crop inventories, is projected at $63.4 billion, 3% over last year.
Much of the increase comes from stronger cash receipts from meat, dairy, poultry and eggs.
**A House Ag Committee farm bill listening session in the heart of the Corn Belt had its fair share of talk about protecting crop insurance, but also support for USDA conservation and nutrition programs.
Speakers at the Farm Progress Show in Decatur, Illinois hit heavily on their desire to see support for programs key to the area, especially crop insurance.
Illinois Republican Rodney Davis tells Agri-Pulse “There’s a lot of consistency in the issues that our producers are bringing up,” “They may be different crops, but they’re consistent issues.”
**Harvey continues to wreak havoc after slamming into the Texas coast as a Category 4 hurricane with deadly 135 mph winds. Harvey dropped more than 4 feet of rain in some areas on vulnerable livestock and unharvested crops, while blowing cotton modules off farms.
It will likely be weeks until a full assessment can be made of the damage.