Statement from Agriculture Secretary Tom Vilsack on ERS’ 2024 Farm Sector Income Forecast

WASHINGTON, Sept. 5, 2024 – Today, Agriculture Secretary Tom Vilsack made the following statement following the release of the Economic Research Service’s 2024 Farm Sector Income Forecast:

“Today’s farm sector income forecast shows that, while the projection shows a decline from the 2022 record high, 2024 is expected to close out a four-year streak of net farm income that’s above the 20-year average. For the prior four years, net farm income was consistently at or below that historic average, even before the COVID-19 pandemic.

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By: USDA Market Reports