By Eric Rama and Blaine Nelson
The agricultural economy improved modestly in 2017. In November, the USDA released its updated estimate for net farm income. If realized, net farm income in 2017 will be $63.2 billion, marking the first year-over-year increase since 2013. The upward revision to the USDA’s estimate was primarily driven by stronger than expected fundamentals in the livestock sector. However, annual crop farmers continue to struggle with low agricultural commodity prices due to oversupply.
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