Income for Wisconsin farms is expected to fall again this year.
The U.S. Department of Agriculture projected the country's net farm income to be $59.5 billion in 2018, a 6.7 percent decrease from 2017's forecast.
While net farm income was up slightly last year, 2018 is expected to be the fifth year of lower income levels after a record high in 2013 at $123.8 billion. If the forecast is accurate, this year will have the lowest U.S. net farm income since 2006.
Paul Mitchell, professor of agricultural and applied economics at the University of Wisconsin-Madison, said Wisconsin incomes will likely follow the USDA’s projections.
Mitchell said strong land values in the state have allowed farmers to continue to operate. But without a price rally, he expects more farms will be forced to declare bankruptcy this year.
Read more from Wisconsin Public Radio.