Government Payments Boosted Farm Income, Says USDA

According to the USDA, government payments have boosted farm incomes 42.5% year-over-year.  Those payments increased from what was issued in 2018, to an expectation of $19.5 billion this year.

“Conservation-related payments are estimated at $3.7 billion, that's down 8.4% from last year those that are related to crop prices are at estimated at 2.8 billion dollars and that's down 12.4% from last year,” said USDA's Deputy Chief Economist, Warren Preston.

He added other payments total around $13 billion.

“A bit part of that are the market facilitation payments due to the unfair trade retaliation and the tariffs imposed by our trading partners,” Preston noted.  “Last year those market facilitation programs received by farmers in 2018 were $5.1 billion dollars and for 2019 we're forecasting those market facilitation program payments at $10.7 billion.”

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