By Matt Olberding
Nebraska’s farm income is forecast to hit nearly $10 billion this year, despite potential higher costs for inputs such as diesel fuel and fertilizer.
But the news is not as good as it sounds because the increase will once again be driven by an increase in government payments.
According to the latest projections from the University of Nebraska-Lincoln and the University of Missouri, the state’s net farm income should jump 12% in 2026, to an all-time high of $9.96 billion. That would shatter the previous record of $9.3 billion in 2023.
A big driver of the increase will again be government payments, which are projected to jump 71% from last year to almost $3 billion. The report said most of that will come in the form of commodity program payments under the One Big Beautiful Bill Act to compensate farmers for losses due to tariffs.
But Nebraska agricultural producers also will benefit from strong prices, the report says.
Total livestock receipts in Nebraska are projected to increase by $708 million, or 3%, to $23.55 billion in 2026. Cattle receipts, which account for 91% of Nebraska livestock receipts, are projected to increase by $1.09 billion, or 5%, to $21.52 billion, due to continued high cattle prices driven by tight supplies and stable marketings of heavier cattle, according to the report.
Crop prices, which have been depressed for three years, are forecast to rebound this year, leading to an increase in receipts for both corn and soybeans.
Click here to see more...