USDA's Economic Research Service (ERS) forecasts inflation-adjusted U.S. net cash farm income (NCFI), defined as gross cash income minus cash expenses, will decrease by $16.3 billion (9.6 percent) to $154.1 billion in 2024. This would come after an NCFI decrease of $52.9 billion (23.7 percent) in 2023 from an all-time high of $223.3 billion in 2022.
