Posted on Apr 15, 2023
Missouri farm net income projected to decrease in 2023
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Posted 1 y ago
Responses: 2
PO1 William "Chip" Nagel
..."The cost of feed has increased $815 million from 2020 to 2022, and fuel and oil expenses increased $184 million. In this same time, the cost of fertilizer rose $960 million. However, 2023 production expenses are predicted to increase by 2% or $236 million.
As for why these numbers are important to understand, “RaFF’s state-level insights are critical for decision-makers,” Scott Brown, interim director of the center, said in a Tuesday news release from MU. “By understanding how farmers’ and rural communities’ incomes are impacted by various factors, these individuals can be equipped with insights for program and policy discussions.”
..."The cost of feed has increased $815 million from 2020 to 2022, and fuel and oil expenses increased $184 million. In this same time, the cost of fertilizer rose $960 million. However, 2023 production expenses are predicted to increase by 2% or $236 million.
As for why these numbers are important to understand, “RaFF’s state-level insights are critical for decision-makers,” Scott Brown, interim director of the center, said in a Tuesday news release from MU. “By understanding how farmers’ and rural communities’ incomes are impacted by various factors, these individuals can be equipped with insights for program and policy discussions.”
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