FAST FIVE: Contrary To Conventional Wisdom, US Farmers Are Having Their Best Year Since 2013
This is very significant as US farmers are not faring nearly as poorly as many pundits and media outlets continue to often report.
US net farm income this year is on pace to total $92.5 billion.
This would mark a year-on-year increase of $8.5 billion (10%) and would mark the highest income since 2013's record $123.7 billion.
Federal government direct farm program payments are contributing to a large amount of the income.
Federal government direct farm program payments are expected to end this year at a very robust $22.4 billion, which is $8.7 billion (64%) more than was issued in 2018.