The Spring 2026 Farm Income Outlook for Missouri forecasts a decrease in net farm income, driven mainly by a decline in livestock receipts, according to the Rural and Farm Finance Policy Analysis Center (RaFF) at the University of Missouri.

Published twice a year, the report provides statewide projections of major farm financial indicators for Missouri, analyzing cash receipts, production data, government payments and other factors to estimate the state’s net farm income. Missouri’s net farm income is projected at $4.84 billion in 2026, a 6% decrease from 2025.

Other highlights from the Spring 2026 report include:

• Missouri’s projected 6% decline in net farm income is substantially larger than the projected 1.5% decrease in U.S. net farm income for 2026 projected by the Food and Agricultural Policy Research Institute at the University of Missouri (FAPRI-MU).
• Total crop receipts are projected to decline slightly (-2%) to $6.47 billion, as Missouri’s total crop area is expected to decline by 248,000 acres in 2026, contributing to lower production across major field crops.
• Livestock receipts are projected lower (-11%) to $7.38 billion in 2026. This decline is mainly supported by an $803 million decline in egg receipts, as egg prices are projected to drop 70% in 2026.
• Production expenses are projected to remain stable in 2026, at $12.24 billion. Input costs are mixed in 2026, with declines in feed and seed expenses partially offset by increases in purchased livestock, fertilizer, and fuel and oil costs, while lower interest expenses and net rent may provide some relief.

Looking ahead, the report projects Missouri net farm income will decrease in 2027 by 16%, to $4.07 billion, largely due to reduced government payments for Missouri producers. Crop and livestock receipts are projected to see further declines, but to a lesser extent, decreasing 1% and 2%, respectively. Production expenses are projected to be slightly higher for 2027.

“As some key production costs are rising faster than commodity prices, producers are expected to contain expenses by switching their production mix – whenever possible – as well as their production practices to reduce input use,” said Alejandro Plastina, director of RaFF and Frank Miller Professor of agricultural economics. “Crop producers should buckle up for another year of tough financial decisions while planning the next two to three crop years, and livestock producers should start, if they haven’t already, planning for smaller margins in the coming years.”

On Tuesday, May 5, at 12 p.m. CDT, the report authors will host a webinar to discuss the findings of the report. They will discuss projected changes in net farm income, key crop and livestock trends, rising production costs, and the growing role of government payments. These insights can help support planning, risk management, and decision-making for the 2026 and 2027 seasons. Register for the event to receive the Zoom link.

University of Missouri Extension offers valuable support through publications, tools and workshops to inform decision-making. For more information, visit muext.us/AgBusiness.

Missouri’s Farm Income Outlook is one of 10 state-level farm income reports produced by RaFF in collaboration with land-grant institutions in states such as Arkansas, Kansas and Nebraska, offering additional coverage of key Midwestern and Southern regions.

The full report and supporting tables are available for download at raff.missouri.edu/state-outlooks/.