Tag: Kansas Farm Income

KFMA: Government payments, crop insurance bolster 2024 net farm income

In 2024, Kansas net farm income was $98,583, a modest decline from 2023 due to lower crop prices and dry conditions. Government payments, especially from the Emergency Commodity Assistance Program, and crop insurance significantly supported income, accounting for 93% of farm revenues. Cash flow concerns are anticipated for 2025.

Economists project ‘sizeable increase’ in 2025 Kansas farm income

Kansas State University predicts a significant increase in farm income for 2025, projected to reach $7.74 billion with support from government payments and improved crop yields. While livestock production remains vital, challenges remain due to previous economic losses. The outlook suggests a downturn in 2026 with a projected income of $5.84 billion.