US farm incomes are predicted to decline this year for the first time since 2019 due to higher production expenses, lower government payments, and easing commodity and livestock prices. Hence, agriculture stocks Alico, Inc. (ALCO) and AgriFORCE Growing Systems Ltd. (AGRI) might be best avoided considering their bleak fundamentals.
The US Department of Agriculture has projected that net farm income this year will be $136.90 billion, which is nearly 16% down from the previous year. When adjusted for inflation, net farm income is forecast to fall $30.50 billion, or 18.2%.
