Understanding USDA Farm Income Forecasts

The United States Department of Agriculture (USDA) releases a number of reports throughout the year. In this episode, Purdue agricultural economists Todd Kuethe and Brady Brewer discuss the latest September release of the USDA Farm Income Forecast report. Each year, USDA forecasts farm income in February and then releases four additional updates throughout the year as more data becomes available. This Purdue Commercial AgCast episode discusses the accuracy and bias of these forecasts along with how to interpret the adjustments.