World Perspectives

Farm Financials Going into 2024

USDA’s 30 November farm income forecast shows net farm income at $151.1 billion for CY 2023, a decrease of $31.8 billion, or 17.4 percent, relative to 2022 in nominal dollars. In inflation adjusted dollars, net farm income is forecast to drop $37.9 billion, or 20 percent from 2022. This is a slight improvement over the August forecast of a 23 percent nominal drop. Net farm income in 2022, however, was a record high $182.2 billion, up 30.2 percent from 2021, still leaving net farm income in 2023 at 31.4 percent above its 20-year average (2003–22) of $115 billion in inflation-adjusted dollars. Below is a look at income by commodity; cash receipts are forecast down 4.7 percent for all crops and down 5 percent for livestock and pro...

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From WPI Consulting

Accountability and a comprehensive approach to export programming

WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.

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