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Lower Prices Drive Cash Receipts Decline in 2024
To better understand the factors underlying the forecast change in annual receipts from 2023 to 2024, the change was broken down into two effects: (1) a "price effect" projecting the change in cash receipts associated with holding the quantity sold constant at 2023 levels and allowing prices to change to forecast 2024 levels; and (2) a "quantity effect" holding prices constant from 2023 and quantities changing to forecast 2024 levels. In 2024, falling prices are projected to have negative effects on cash receipts, while rising quantities sold should have positive effects. Overall, cash receipts are forecast to decrease $4.0 billion in 2024, with an estimated negative price effect of $26.2 billion, and a projected positive quantity effect of $20.9 billion. In addition, a net increase of $1.3 billion in cash receipts is from forecasts for commodities for which price and quantity effects cannot be separately determined. Quantity effects on cash receipts are forecast to be positive for crops and animals/animal products. Price effects are forecast to be negative overall for crop cash receipts but are expected to be positive for animal/animal product receipts.
Growth in Animal/Animal Product Receipts Forecast in 2024
Total animal/animal product cash receipts are expected to increase $21.0 billion (8.4 percent in nominal terms) from 2023 to $270.6 billion in 2024. Chicken egg receipts are forecast to see the largest percentage increase among animal/animal product commodities.
Milk receipts are expected to increase $5.3 billion (11.5 percent) in 2024, mainly due to higher prices. Cash receipts from cattle and calves are expected to increase $7.3 billion (7.2 percent), also primarily due to higher prices. Growth in prices and quantities sold are likely to lead to an increase of $1.5 billion (5.7 percent) in hog receipts during the year.
Cash receipts for chicken eggs are projected to increase $7.0 billion (39.4 percent), due to rising prices in 2024. Rising prices and quantities sold are expected to drive broiler receipts $2.5 billion (5.9 percent) higher during the year. However, turkey receipts are forecast to drop $2.8 billion (43.3 percent) in 2024, following expected lower prices and quantities sold.
See data on value of animal/product production (in the value added table) and animal/product cash receipts.
U.S. Department of Agriculture, Economic Research Service. (2024, December 3). Farm sector income & finances: Farm sector income forecast.
After reaching record highs in 2022, farm sector income is forecast to fall in 2024 but at a slower rate than in 2023. Net farm income, a broad measure of profits, reached $181.9 billion in calendar year 2022 in nominal dollars. After decreasing by $35.3 billion (19.4 percent) from 2022 to $146.7 billion in 2023, net farm income is forecast to decrease $6.0 billion (4.1 percent) to $140.7 billion in 2024. Net cash farm income reached $210.1 billion in 2022. After decreasing by $49.4 billion (23.5 percent) from 2022 to $160.7 billion in 2023, net cash farm income is forecast to decrease by $1.8 billion (1.1 percent) to $158.8 billion in 2024.
In inflation-adjusted 2024 dollars, net farm income is forecast to decrease by $9.5 billion (6.3 percent) from 2023 to 2024. Net cash farm income is forecast to decrease by $5.7 billion (3.5 percent) from 2023 to 2024. If realized, both measures in 2024 would remain above their 2004–23 averages (in inflation-adjusted dollars).
See all forecast and estimate data on farm income and wealth statistics or see a summary of the forecasts in the table U.S. farm sector financial indicators, 2017–2024F.
Note: In the text below, year-to-year changes in the major aggregate components of farm income are generally discussed in nominal dollars, although cases are noted where the change is reversed using inflation-adjusted dollars.
Crop Receipts Projected To Fall in 2024
Crop cash receipts are forecast at $246.2 billion in 2024, a decrease of $25.0 billion (9.2 percent) from 2023 in nominal terms. Combined receipts for corn and soybeans are forecast to fall $23.5 billion, however, vegetable and melon receipts are expected to increase.
Corn receipts are expected to fall by $16.6 billion (20.8 percent), as lower forecasted prices should outweigh higher quantities sold in 2024. Lower prices in 2024 should also outweigh growth in quantities sold for soybean receipts, which are forecast to decrease by $6.9 billion (12.3 percent). Falling prices and quantities sold are expected to pull cotton receipts $1.9 billion (26.9 percent) lower in 2024. Wheat receipts are forecast to decrease $0.8 billion (7.0 percent), as lower prices will likely outweigh higher quantities sold. Rice receipts are projected to grow by $0.2 billion (4.5 percent), behind rising quantities sold. Receipts for hay are expected to decline by $0.8 billion (8.1 percent).
Vegetable and melon cash receipts are expected to increase by $1.7 billion (6.7 percent) in 2024 and receipts for fruits and nuts are expected to fall by $0.6 billion (2.1 percent) during the year. Receipts for sunflower are forecast to decline $0.3 billion (39.9 percent) in 2024.
See data on value of crop production (in the value added table) and crop cash receipts.
Before reading, please note that this is a game in ongoing development, and features will be completed and added over time.
Robot Farm is a Life-Sim RPG set after a cataclysmic war that has ravaged the planet and caused a mass disappearance of all its inhabitants. When people begin to suddenly reappear all over the world, they are awakened with the "memory" of their lives long-past- wanting only to recover and return to their once peaceful lives before this avalanche of strife befell them.
Being one of many survivors, you see both the fragments of what was, what is, and what can be. Not only this, but you have a gift to decide these pieces of fate: the "Aokobots." Machines that were left dormant during the sleep civilization had fallen into, have now awoken and respond to your words and thoughts. In a world full of mystery and danger, what will you do to make it home once more?
■ Explore: Explore a world full or perils and adventure. Rediscover the secrets it has to offer. Delve into dungeons, solve their puzzles, and use your Aokobots to repair and restore it them to enable journeying deeper inside.
■ Make a home: find a suitable location and begin building up your new home. Live in towns, interact with your neighbors, and bring your friends and crushes along with you on dates/adventures. Give yourself somewhere to come home to when it's time for rest and resupplying.
■ Build an autonomous flow of income: with the help of your Aokobots, build and protect automated farms and factories that will not only help you fund your adventures and reconstruction efforts, but also supply the required infrastructure to build crucial items and machines you'll need to explore deeper into the world and reconnect it.
■ Fight alongside your robot companions: ally yourself with Aokobots and other NPCs with our hybrid Turn-based system. Fight in real-time against weaker enemies, and engage in strategic turn based battles against strong foes that require teamwork. Our unique system introduces combos, real-time movement, and using items/traps while fighting in Tactics-based combat - all while taking place on the overworld. Items are the key to victory, so it's important to keep a steady supply coming out of your farms/factories!
■ Experience our story. Walk into our universe: While the reconstruction of the world is well underway, many feel uneasy not fully understanding what happened all those years ago. What caused everyone to disappear, and why are they reappearing now? Will it happen again? It’s up to you to reconnect the world and answer these questions! Walk into Universe 7, the world of our last project, We Shall Wake, and experience the grand story of a world we’re just beginning to weave.
...Or perhaps, explore the world of another person’s creation made with our World Editor:
■ The World Editor: Dedicated Modding Tools - create your own worlds: The tools used to develop Robot Farm will be made fully available to the players; create your own worlds, your own stories, your own characters, and share them online- all by using our dedicated development and modding tools! Modding assets are saved via "Magic Images," card-like PNG files that store all of your custom data and can be easily traded and shared around the internet.
Savor field-fresh flavors and renowned hospitality all in the breathtaking setting of the foothills of the Great Smoky Mountains in our three award-winning restaurants on property. Alternative dining experiences such as Meals A'field and In Room Dining are also available.
Our Concierge team is ready to help plan out your epicurean adventures. Dinner and Meals A'field reservations are required.
Creating memorable Experiences
Regardless of the season, Blackberry Farm offers countless activities and adventures to fulfill your every desire. From relaxation and wellness to more vigorous and inspiring adventure filling your days, our dedicated professionals are available to help you explore, learn, taste and train.
Our Concierge team is at your service to help guide you through the many opportunities that await you at Blackberry Farm. We want your time with us to allow you to actively seek out and savor all facets of a life well lived–balancing health and happiness and providing experiences you can’t find anywhere else.
What is civilisation if it isn’t people talking to each other over a goddamned beer? wrote James S.A. Corey in his science fiction novel, Cibola Burn. We couldn’t agree more. Recently, we organised a beer tasting down on the farm so we could chat with some local homebrewers over ‘a goddamned beer’ (including the famous Yellow Belly stout), It’s a great way to get to know new people and new brews. We highly recommend it and have left you with a few tips on how to hold your own. One of the topics that came up was how to carve out time in our busy lives for homebrewing. We’ve got a few tips on that too!
Also in this issue we look into stouts and additions, and have some tasty festive brew recipes for you to get stuck into - perfect for the wintry months ahead. Pour yourself a cool one and grab a few minutes to enjoy some homebrew inspiration.
Direct Government Farm Payments Forecast To Decrease in 2024
Direct Government farm program payments are those made by the Federal Government directly to farmers and ranchers with no intermediaries. Typically, most direct payments to farmers and ranchers are administered by the USDA using the Farm Bill or related authorities. Direct payments can also come from supplemental programs authorized by the U.S. Congress. Government payments do not include Federal Crop Insurance Corporation (FCIC) indemnity payments (listed as a separate component of farm income) and USDA loans (listed as a liability in the farm sector’s balance sheet). Direct Government farm program payments are forecast at $10.6 billion for 2024, a decrease of 13.6 percent ($1.7 billion) from 2023 to 2024. This overall decrease reflects anticipated lower payments from the Dairy Margin Coverage (DMC) program and lower payments from supplemental and ad hoc disaster assistance, particularly from the Emergency Relief Program (ERP).
See data table on Government payments.
Production Expenses Forecast To Decline in 2024
Farm sector production expenses, including expenses associated with operator dwellings, are forecast at $453.9 billion in 2024. This is a decline of $8.0 billion (1.7 percent), compared with 2023 levels. When adjusted for inflation, production expenses are forecast to decrease by 4.1 percent from 2023 to 2024.
See data tables on production expenses.
Spending on feed, labor, and livestock/poultry purchases are expected to represent the three largest categories in 2024. Feed purchases, the largest single expense category, are forecast at $69.5 billion in 2024, declining by $10.5 billion (13.2 percent) from 2023. However, labor expenses (including both cash labor expenses and noncash employee compensation) are forecast to rise by $3.0 billion (6.1 percent) to $51.8 billion in 2024, compared with 2023. Livestock and poultry purchases are projected to grow by $4.4 billion (10.2 percent) to $47.4 billion in 2024. Note that no adjustments for inflation are made.
Several other expense categories are forecast to notably change in 2024, compared with their 2023 levels:
King Koi Farm là một trong những đơn vị hàng đầu cung cấp các giống cá Koi chuẩn từ Nhật Bản. Chúng tôi tự hào là đơn vị đã hỗ trợ và tư vấn cho rất nhiều khách hàng về xây dựng hồ cá KOI cũng như chăm sóc cá KOI đạt chuẩn để mang lại trải nghiệm tốt nhất cho khách hàng.
Total Cash Receipts Forecast To Decline for Second Straight Year in 2024
Total inflation-adjusted cash receipts are forecast to fall $16.6 billion (3.1 percent) from 2023 to $516.9 billion in 2024. Crop cash receipts are projected to decline $31.6 billion (11.4 percent) during the year, although animal/animal product cash receipts are expected to increase by $15.0 billion (5.9 percent).
