USDA released on February 7, 2024, the U.S.-level first farm income forecast for the 2024 calendar year.   The 2024 net farm income[1] forecast ($116.1 billion) indicates a $39.8 billion decline from the 2023 calendar year forecast ($155.9 billion), and $69.4 billion below from the record high net farm income in 2022 ($185.5 billion) (Figure 1). After adjusting for inflation, net farm income is forecast to decline by $43.1 billion (27.1%) in ...