"USDA projects farm income will fall in 2023 after two robust years"

"After two strong years of growth, U.S. farm income is forecast to drop substantially in 2023 as commodity prices fall and expenses rise, the U.S. Department of Agriculture Economic Research Service reported Tuesday.

And with food prices projected to rise into 2023, the nation’s producers will not be reaping the financial benefits.

The economic team said inflation-adjusted net cash profits are expected to decline from a record-high $195.3 billion last year to $150.3 billion in calendar year 2023, a drop of 22.9 percent. "

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