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

5-18-2016

Citation

Cornhusker Economics, May 18, 2016, agecon.unl.edu/cornhuskereconomics

Comments

Copyright 2016 University of Nebraska.

Abstract

After peaking over $120 billion in 2013, U.S. net farm income fell to $56 billion in 2015 with projections of $54 billion for 2016, the lowest level since 2002 (USDA Economic Research Service). The large drop from 2013 to 2016 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.