U.S. Farmers Won’t See Profits Like 2020 for Decade, USDA Says
- Farmers benefited from surge in government aid last year
- Despite rise in sales, USDA expects lower profits through 2030
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U.S. farmers won’t see another year as profitable as 2020 for at least a decade, the U.S. Department of Agriculture projected Tuesday.
Farm profits soared to their highest level in seven years amid a flood of government aid related to the pandemic and the trade war, with direct federal assistance payments accounting for more than a third of U.S. farmers’ $121.1 billion in net income last year.