Farming is a cornerstone of America, but if you look at the income data, it’s clear our farmers are facing some serious financial pressure. While total farm income has fluctuated over the years, many farms rely heavily on government payments and subsidies to stay afloat. Dude, imagine busting your tail every day only to barely break even, or worse, rely on government aid just to keep your family business running. That’s the reality for many small and medium-sized farms across the country.
It’s not just rising costs that create the problem. Many farmers are battling unpredictable weather patterns that can wipe out entire crops or devastate livestock in a matter of days. And while insurance and aid can help, they’re often not enough to cover long-term losses. The burden of financial instability has forced many family farms to sell off land or downsize, and this trend threatens the sustainability of American agriculture. Supporting local farmers through your food choices is one of the most direct ways we can help keep our farming heritage alive.
According to USDA data, the financial outlook for U.S. farmers remains challenging. In 2024, gross cash farm income (GCFI) is forecasted to drop by 5%, down to $577.1 billion, while net farm income (NFI) is expected to decrease by 6.8%, to $140 billion. Rising production costs, alongside unpredictable weather and market conditions, continue to squeeze small to mid-sized farmers. Moreover, most U.S. farms are small family-owned operations, and many farmers rely on off-farm income to make ends meet.