The USDA is forecasting $ 69.4 billion worth of farm income this year.

If the forecast is confirmed, then this will be the third, since 2015, case when the net annual profit of farmers is below $ 70 billion. The economists of the Ministry see a new average indicator of farm profitability in this.

This year, analysts expect farm incomes this year to be lower than at the beginning of the current decade, when a 7-year commodity boom raised revenue to $ 123.4 billion.

The country's Ministry of Agriculture predicts an increase in livestock production, and this, in turn, will have a positive impact on profitability growth. The Ministry also predicts a slight increase in production costs, together with a reduction of $ 2.3 billion in government payments.

Usually, the USDA makes its first forecast of the farmer year in early February, however, this year due to the partial cessation of work of government agencies, the forecast was postponed for 35 days.

The next forecast from the USDA should be expected on August 30 of this year.