Harvest is almost over. For the farmers in this community, this season is when they collect all their yearly income. So it's stressful. It's long hours for many days, working with the weather and equipment that breaks down. This year, we did get good rain in most areas, but the price is lower this year, so the question will be if there is enough money after selling the crops to cover the operating loan. According to Hi-line Today on 9/13/24, winter wheat was worth $5.09 a bushel, and spring wheat was $5.37 a bushel, to give you an example. Last year, winter wheat was worth $6.40 - $7.00 a bushel, while spring wheat was worth $7.27 - $9.38.
Last year, Montana harvested 5,265,000 acres of winter and spring wheat worth $1,375,965,000. We harvested 1,015,000 acres of barley worth $6.96 a bushel for a total of $363,066,000. Lentils acres totaled 373,000 worth $38 CWT for a total of $157,761,000. Peas harvested 570,000 acres at $14.30 CWT for a total of $145,795. One hundred sixty-four thousand five hundred acres of Chickpeas were harvested at $36 CWT for a total of $74,074,000. Canola was harvested on160,00 acres worth $20.4 CWT for a total of $52,483,000. Other crops harvested were corn, safflower, flaxseed, and oats. Sugarbeets are still grown in Montana, and 23,000 acres have been harvested.
Montana was ranked #1 in the production of lentils, dry edible peas, and chickpeas last year.
Northern Ag Network published "Agriculture in the Red: Net income drops again in 2024 Forecast" on September 6, 2024. It stated, "September 2024 farm income forecast projects this to be yet another challenging year for American farmers, who are expected to lose nearly a quarter of their income in two years. Net farm income, a key measure of profitability, is forecast at $140 billion for 2024, marking a $6.5 billion decline (4.4%) from 2023, following a sharp 19.5% drop from 2022 to 2023. Inflation-adjusted figures indicate even greater financial strain, with net farm income expected to fall by $10.2 billion (6.8%) from the previous year."
"Cash receipts from crop sales are expected to suffer a significant blow in 2024, with a forecasted year-over-year decline of $27.7 billion (10%) to $249 billion. This projected drop is far more severe than the USDA's original February forecast, which anticipated a $16.7 billion (6%) decrease."
According to Northern Ag Network reported in their "Conclusion: A Tough Road Ahead
USDA's 2024 farm income forecast paints a grim picture for American agriculture. Net farm income is set to decline nearly 25% in two years, with substantial losses in crop receipts and continued pressure from rising costs. While livestock producers may see modest gains, the outlook for many crop farmers is increasingly uncertain, with global supply and demand imbalances weighing heavily on prices. The reduced government support, combined with elevated production expenses, leaves many farmers in a precarious financial position."
In September, farmers plant their winter crops. These crops need to germinate during the fall, freeze, and grow again in the spring. So, although many farmers are stressed because of low prices, they have already started the process of fall seeding.
Although stressed, and some I would say are depressed, they continue to carry on like their families have done for a hundred years.
