The Department of Agriculture is projecting a more optimistic view of the farm economy than it did a year ago. In tables released Thursday, USDA projects 2019 net farm income at $77.6 billion, a $14 billion increase from the projections made last year. The upward swing comes as USDA projects an increase in 2019 cash receipts — $375.8 billion in this year’s report, rising $11 billion from last year — and a drop in cash expenses — $322.3 billion, a $3 billion drop from last year’s projections. Direct government payment projections for 2019 rose $1.2 billion to $10.2 billion. More>>
