Farmers May See Dip In Income, But Experts Say There Are Reasons To Be Optimistic

Mar 24, 2021

By Seth Bodine

Farmers might make less money this year due to less assistance from the government and increased production costs.

Farm income is estimated to be $112 billion in 2021 — $9 billion less than last year.

In 2020, farmers and ranchers made a total of $121 billion, the highest amount since 2013. Government subsidies account for $46 billion, according to a report from the Food and Agricultural Policy Research Institute at the University of Missouri.

China also played a big part in increased incomes. Patrick Westhoff, director of the institute, says there has been an increase in demand in crops like soybeans after African swine fever devastated the Chinese pork industry.

“They've been trying to rebuild. To do so, of course, you need feed for those livestock,” Westhoff says. “They’re trying to change the way they feed livestock without using kitchen scraps and things like that as much as they used to, but instead rely on corn and soybean meal.”

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Video: Fendt Testimonial | Fendt 726 Vario Gen7 | Peter Watson Jones Ltd.

What happens when a farm buys its first Fendt? For Peter Watson Jones Ltd, the Fendt 726 Vario Gen7 has exceeded expectations from day one. For Jack, Farm Manager at Peter Watson Jones Ltd in North Shropshire, UK, the Fendt 726 Vario Gen7 wasn't just another tractor purchase. It was the farm's first experience with the Fendt brand.

Operating across a 1,200-acre arable farm alongside a 250,000-head broiler enterprise, the business has evolved significantly over the last decade, moving to a straight arable system with fewer staff and machines. Since arriving on the farm, the Fendt 726 Vario has established itself as the main drilling and cultivations tractor, earning its place through performance, versatility and efficiency. Whether it's handling large-scale cultivations or working with a new 4.5m strip-till drill, the tractor continues to impress.

Jack highlights its excellent manoeuvrability, operator comfort and ability to deliver strong pulling power at low engine speeds. The result? Outstanding fuel efficiency without compromising performance. Reliability has also been a key factor, with dependable backup from the team at TR Machinery helping to keep the tractor working when it matters most.

?? Watch as Jack shares why the Fendt 726 Vario Gen7, the farm's first Fendt, has made such a strong impression and become an integral part of their operation.