MarketResearch.com: U.S. Net Farm Income Expected to Drop to $58.3 Billion

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Sep 03, 2015, 07:03 ET

WASHINGTON and NEW YORK and LONDON, Sept. 3, 2015 /PRNewswire/ -- MarketResearch.com offers users access to reports covering the agriculture market. The net farm income is expected to drop to $58.3 billion in 2015, down from $91.1 billion in 2014.

This 36 percent decline in income will bring the industry to its lowest level in nine years. In February 2015, experts forecasted a 32 percent drop due to a diminished outlook for livestock farmers. But now, the biggest contributing factors to the revenue decline are lower milk and hog prices. For the remainder of the year, the U.S. government expects a 29 percent drop in dairy receipts and a 27 percent drop for hogs.

Despite large harvests, Midwestern crop growers are also facing reduced cash flow due to a decline in crop prices across the country.

Lower profits from farmers means lower sales for machinery manufacturers. In August, industry leader of tractors and harvest machinery sales, Deere and Company, reported that quarterly profits dropped 40 percent, given the weak demand for agricultural equipment.

To learn more about the farming industry, check out the reports MarketResearch.com offers:

United States Department of Agriculture - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investment Report http://www.marketresearch.com/land/product.asp?productid=9038289&progid=87797
The US Farm Equipment Industry Outlook to 2017 http://www.marketresearch.com/land/product.asp?productid=8122798&progid=87797

These reports on the agriculture industry and more can be found on www.profound.com, where subscribers are able to purchase the individual sections, chapters, tables, or charts of a report they need without having to pay for the pieces they don't.

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