Each year, Nebraska Farm Business, Inc. (NFBI) compiles and analyzes real financial data from farms and ranches across the state to provide insight into the financial health of Nebraska agriculture. As an organization dedicated to helping producers remain profitable through financial analysis and benchmarking, NFBI’s data reflects the actual performance of participating operations and serves as a valuable resource for understanding industry trends. This Cornhusker Economics article highlights key findings from the 2024 data set. A complete and detailed report is available for purchase at www.nfbi.net under the Annual Reports section.
Net Income Recovery Falls Short of Historical Highs
Net farm income nearly doubled in 2024, rising to $85,471 from $38,005 in 2023. While this marks a notable recovery, it remains significantly below the peak of $504,052 reached in 2021. This sharp contrast highlights the volatility producers have experienced in recent years, driven by market fluctuations, weather variability, and shifting input costs.
