U.S. farm incomes are expected to drop 38 percent in 2015, the steepest year-on-year drop since 1983, due to lower crop and livestock prices, the U.S. Department of Agriculture's Economic Research Service (ERS) said on Tuesday.
Incomes are forecast to drop for a second straight year to $55.9 billion, which if realized would be the lowest level since 2002, signaling further pressure on sellers of agricultural inputs, equipment and land.
The updated forecast was down from an August estimate for $58.3 billion and 55 percent below a record $123.3 billion in 2013 when near record-high crop prices boosted farming profits.
Unless otherwise noted, the posts on this blog should be construed as market commentary, merely observing economic, political and/or market conditions, and not intended to refer to any particular trading strategy, promotional element or quality of service provided by INTL FCStone Inc. or its subsidiaries. INTL FCStone Inc. is not responsible for any trading decisions taken by persons viewing this material. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. These materials represent the opinions and viewpoints of the author, and do not necessarily reflect the viewpoints and trading strategies employed by INTL FCStone Inc. or its subsidiaries. Reproduction without authorization is prohibited. All rights reserved.