Farm income could see a slight increase this year, compared to 2016. American Farm Bureau Federation chief economist Bob Young says it’s possible the farm economy hit bottom last year:
He says there are many factors to watch during 2017 that could sway the market, but cautions that there won’t likely be much price movement for row crops.
Young says the current price situation will be addressed during negotiations of the next farm bill.
Despite record or near record crops in recent years, low prices have kept farm profit margins tight. It looks like 2017 could be shaping up the same way.