Income Wrap Up

The state’s farmers and ranchers finished 2020 with improved or at least stable income conditions. Much of the income improvement, though, was due to increases in federal government assistance. The improvement in the aggregate, however, obscures struggles for some operations and a growing disparity between successful operations and those stressed. For the struggling operations, the government assistance and improved price conditions helped, but underlying financial weaknesses remain which must be overcome. It is these operations that will be most under pressure as 2021 begins.