North Central Extension Risk Management Education

Authors

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

Date of this Version

5-24-2017

Citation

Cornhusker Economics, May 24, 2017, agecon.unl.edu/cornhuskereconomics

Comments

Copyright 2017 University of Nebraska.

Abstract

After peaking over $123 billion in 2013, U.S. net farm income fell to $68 billion in 2016 with projections of $62 billion for 2017, a nearly 50% drop (USDA Economic Research Service). The large drop from 2013 to 2017 after nearly a decade of strong growth in agricultural income presents a substantial challenge to agricultural producers and an increased need to manage risk on the farm or ranch carefully.