2024 may go down in history as one of the worst financial years for farmers since 2007.
The Farm Journal’s Ag Economists Monthly Monitor gathers data on where economists feel the economy currently stands and the results have been fairly pessimistic this year.
The September data showed that a majority of the 70 economists polled believe that the farm economy is on the brink of a recession.
Many also expressed worry about the state of the economy just compared to last year, with the latest USDA net farm income projections showing a 7% decline in farm income compared to 2023.
