By: NATHAN STUEDLE
Net farm income in the United States is projected to reach $177 billion in 2025, a sharp increase from $128 billion in 2024. This is according to the latest update of the annual U.S. farm income and consumer food price report by the Food and Agricultural Policy Research Institute (FAPRI) at the University of Missouri’s College of Agriculture, Food and Natural Resources.
Record cattle prices and large one-time government payments have boosted 2025 income but declines in crop prices and projected reductions in future government support raise concerns about the outlook for 2026. The report incorporates data available in August, including the USDA crop production estimates and economic forecasts from S&P Global. It also accounts for modifications in key farm programs and tax credits related to biofuel production that were included in the One Big Beautiful Bill Act signed into law in July.