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U.S. net farm income to decrease in 2026

A line chart showing U.S. gross farm income, production expenses, and net farm income (inflation adjusted) for the years 2006 through a forecast for 2026.

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Gross farm income reflects the total value of agricultural output plus Government farm program payments. Net farm income (NFI) reflects income after expenses from production in the current year and is calculated by subtracting farm expenses from gross farm income. NFI considers cash and noncash income and expenses and accounts for changes in commodity inventories. Inflation-adjusted NFI is expected to decrease by 5.5 percent from 2025 to $158.4 billion in 2026. Farm production expenses are projected to remain comparable to the 2025 level, increasing by $7.1 billion (1.5 percent) in 2026, after adjusting for inflation.

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