USDA: Farm profits set to drop in 2023 on lower revenue

02/07/23 12:40 PM By Philip Brasher

The Agriculture Department is forecasting that net farm income will decline sharply this year on lower revenue from crops and livestock and higher production expenses.

Philip Brasher
Editor in Chief

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Agri-Pulse Open Mic: Michael McAdams, President, Advanced Biofuels Association

This week’s Open Mic guest is Michael McAdams, President of the Advanced Biofuels Association. After an extensive career serving on Capitol Hill, McAdams founded the ABFA in 2006. The group represents all aspects of the advanced biofuels in the nation from large refiners to major feedstock providers and new technology groups. McAdams believes government statutes for advanced biofuels are not working with taxpayer incentives to grow the industry. While the nation transitions to new leadership in Washington, a delay in the release of new regulations has the industry operating in a cloud of confusion. McAdams believes Congress needs to act in the Lame Duck Session to provide a window of time to provide clear rules for the industry to follow and meet the growing need for advanced biofuels.

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Agri-Pulse Newsmakers: Nov. 15, 2024: Election results analysis from NAFB Convention

It’s official: Republicans have won control of the House as well as the Senate and White House.

Biofuel policy, the farm bill and trade could see changes under the new administration and Congress. We asked Torrey Advisory Group President Michael Torrey, NPPC CEO Bryan Humphreys, American Sugarbeet Growers Assn. CEO Luther Markwart and ACE CEO Brian Jennings about their outlook from the National Association of Farm Broadcasting annual meeting.

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