North Central Extension Risk Management Education Center

Authors

Christine Lockert, University of Nebraska-LincolnFollow
Bradley D. Lubben, University of Nebraska-LincolnFollow

Date of this Version

2015

Citation

Cornhusker Economics May 6, 2015

Comments

Copyright 2015 University of Nebraska-Lincoln

Abstract

After peaking near $130 billion in 2013, U.S. net farm income fell to $108 billion in 2014 and is expected to fall to $74 billion in 2015, the lowest level since 2009 (USDA Economic Research Service). The large drop from 2013 to 2015, after nearly a decade of strong growth in agricultural income, presents a substantial challenge to agricultural producers and an increased need to carefully manage risk on the farm or ranch.