Source: Chuck Abbott, SUCCESSFUL FARMING, 6/16/20


U.S. farm income, under pressure this year from the trade war and coronavirus pandemic, could fall off a cliff next year when record-setting federal payments are due to end. The plunge in income could be avoided by cost-cutting on the farm, a recovery in commodity demand, or a new multibillion-dollar round of federal aid, but those are far from assured, say analysts in early assessments. The outlook for 2021 has gotten little attention amid this year’s dramatic upheavals and calls for immediate aid. Few estimates have been made for the coming year. The FAPRI think tank at the University of Missouri says farm income would drop by 12% next year if commodity prices remain low and there is no new stopgap farm aid program.

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