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Farm Progress America, December 5, 2022

Max Armstrong digs into the latest numbers from USDA on net farm income, and costs of production.

December 5, 2022

Max Armstrong shares that USDA’s net farm income up 14%, which was higher than earlier projections by the agency. Income numbers are up in several categories, but farm expenses saw the largest increase on record – 19%. Livestock production rose 31%, but a lot of that is chicken eggs, broilers and dairy products. Max digs into some of the stats in greater detail, and highlights some of the roadblocks ahead. And he shares information about the rise in costs for fertilizer, crop protection products and fuel.

Max Armstrong's Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Max Armstrong, veteran farm broadcaster and host of This Week in Agribusiness.

Photo: Farm Progress

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