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Farm profits reached new heights last year, but are expected to drop in 2023
As food prices rose around the country, so did farmers’ take-home pay. Net farm profits rose by 30% from 2021 to 2022, according to recent data from the U.S. Department of Agriculture. At the same time, food prices inflated by more than 10%. The USDA predicts farm incomes will drop by about 20% in 2023 […]