The USDA has revised net farm income figures upward for the 2017 marketing year, but the impact will be minimal in Illinois—because most of the gains were made in livestock sector.
That’s Illinois Farm Bureau senior economist Mike Doherty. He says those farmers that cash rent have basically had a breakeven year.
The 2017 USDA farm income forecast also predicts real estate debt to reach a historic high in 2017 driven by continued demand for cropland combined with anticipated low interest rates and strong crop yields.
