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Latest 2024 farm income forecast shows overall decrease from 2023 • South Dakota Searchlight

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Latest 2024 farm income forecast shows overall decrease from 2023 • South Dakota Searchlight


Farm income is forecasted to have decreased in 2024 by 4% from 2023, largely because of a decrease in cash receipts, or the gross income, from the sale of commodity crops, according to the December update of the U.S. Department of Agriculture’s farm income forecast.

Carrie Litkowski, the farm income team leader with USDA Economic Research Service, presented the latest update in a webinar Tuesday, and said the forecast was very similar to its previous September iteration.

“But somehow it feels a little more important, as we near the end of the year, to evaluate the current state of the farm economy as a starting point for considering what challenges and opportunities may lie ahead for U.S. agriculture,” Litkowski said.

Net cash farm income for 2024 is projected to be $158.8 billion, which in inflation-adjusted figures is 3.5% lower than net cash farm income in 2023. The forecast shows the 2024 figure, however, is 9.8% above the 20-year average for net cash farm income, and represents a less gradual decline than that of 2022 to 2023.

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Net cash farm income is the income minus expenses of the farm, including government payments, but excluding things like changes in inventories or economic depreciations, which are reflected in the “net farm income” figures.

The sale of agricultural commodities is projected to decrease by less than 1 percent overall as an over 8% increase in animal and animal product receipts nearly offsets the over 9% decrease in forecasted crop receipts.

Because of this, net cash income for all farm businesses specializing in crops is forecasted to be lower this year than last, but all farm businesses specializing in animal or animal products are expect to have higher net cash farm income than they did in 2023.

This could mean lower net cash income for the farming sector in South Dakota for 2024, as the first and third largest category of cash receipts on South Dakota farms in 2023 were corn and soybeans, which are projected to decrease, nationally, by 23% and 14% respectively in 2024.

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The data used in the USDA ERS forecasts represents the entire farming sector of nearly 2 million farms and ranches. Litkowski said the reports are used to inform policy makers and lenders, and in determining the ag sector’s contributions to the U.S. economy.

It’s forecasted that farmers in 2024 will have a decreased need of supplemental and disaster assistance, as well as lower dairy margin payments. That will result in a forecasted $1.7 billion decrease from 2023 in direct government payments to farmers.

Litkowski said natural disasters like hurricanes Helene and Milton have not yet shown up in the data, because much of the harvesting in the affected regions had already been completed at the time of the hurricanes, and payments have not yet been issued.

“Natural disasters have the potential to affect farm income, and historically, they have,” Litkowski said. “Sometimes it just takes time to know the impacts.”

USDA also forecasts overall lower input costs, primarily in feed fertilizers and pesticides for farmers in 2024. Other inputs, however, like labor, interest rates and livestock and poultry purchases are forecasted to have increased.

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Median farm income for 2024 is expected to increase to $100,634, which is almost 3% higher, without adjusting for inflation, from 2023. Off-farm income, which represents the biggest share of income for most on-farm families, is projected to increase in 2024, after decreasing slightly over the past three years.

Litkowski clarified that “half of all farms are residential farms” where the owner’s primary occupation is not farming, which typically leads the median on farm income to appear as a negative amount.

The forecast will be updated again Feb. 6 when the department will release its first projections for 2025.

Iowa Capital Dispatch is part of States Newsroom, a nonprofit news network supported by grants and a coalition of donors as a 501c(3) public charity. Iowa Capital Dispatch maintains editorial independence. Contact Editor Kathie Obradovich for questions: [email protected]. Follow Iowa Capital Dispatch on Facebook and X.
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South Dakota

SD Lottery Millionaire for Life winning numbers for Feb. 26, 2026

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The South Dakota Lottery offers multiple draw games for those aiming to win big.

Here’s a look at Feb. 26, 2026, results for each game:

Winning Millionaire for Life numbers from Feb. 26 drawing

03-14-22-50-57, Bonus: 04

Check Millionaire for Life payouts and previous drawings here.

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Feeling lucky? Explore the latest lottery news & results

Are you a winner? Here’s how to claim your prize

  • Prizes of $100 or less: Can be claimed at any South Dakota Lottery retailer.
  • Prizes of $101 or more: Must be claimed from the Lottery. By mail, send a claim form and a signed winning ticket to the Lottery at 711 E. Wells Avenue, Pierre, SD 57501.
  • Any jackpot-winning ticket for Dakota Cash or Lotto America, top prize-winning ticket for Lucky for Life, or for the second prizes for Powerball and Mega Millions must be presented in person at a Lottery office. A jackpot-winning Powerball or Mega Millions ticket must be presented in person at the Lottery office in Pierre.

When are the South Dakota Lottery drawings held?

  • Powerball: 9:59 p.m. CT on Monday, Wednesday, and Saturday.
  • Mega Millions: 10 p.m. CT on Tuesday and Friday.
  • Lucky for Life: 9:38 p.m. CT daily.
  • Lotto America: 9:15 p.m. CT on Monday, Wednesday and Saturday.
  • Dakota Cash: 9 p.m. CT on Wednesday and Saturday.
  • Millionaire for Life: 10:15 p.m. CT daily.

This results page was generated automatically using information from TinBu and a template written and reviewed by a South Dakota editor. You can send feedback using this form.



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SNAP soda ban headed to desk of South Dakota governor, who’s concerned about costs

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SNAP soda ban headed to desk of South Dakota governor, who’s concerned about costs


State Sen. Sydney Davis, R-Burbank, speaks in the South Dakota Senate at the Capitol in Pierre on Feb. 10, 2026. Davis is sponsoring a bill that would ban the use of SNAP benefits for soda purchases. (Photo by Makenzie Huber/South Dakota Searchlight)

By: John Hult

PIERRE, S.D. (South Dakota Searchlight) – The question of whether South Dakota moves to ban the use of government food assistance for sugary drinks is in the hands of Republican Gov. Larry Rhoden, who has signaled his opposition to the bill all through the 2026 legislative session.

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The state Senate voted 27-6 on Wednesday to endorse House Bill 1056, after the House passed it earlier 58-11. Assuming the same levels of support, both margins are wide enough to overcome a Rhoden veto, should he choose to issue one.

The bill directs the Department of Social Services to ask for a federal waiver to allow the state to bar the use of Supplemental Nutrition Assistance Program benefits for the purchase of soft drinks. 

SNAP is a federal program, managed by the state, through which people with low incomes get a monthly allowance for food through a debit-like card that can be used at most stores to buy nearly any consumable grocery item save alcohol and prepared foods. 

Representatives from Rhoden’s office testified against the bill in House and Senate committees, arguing that the administrative costs would be too high. A fiscal note attached to the bill between its passage in the House and its appearance on the Senate’s Wednesday calendar estimated that implementation would cost $310,000 through the first two years. Those costs would come from hiring an extra employee and contracting for software to track sales, file reports and help retailers determine which drinks are banned.

Backers see long-term savings to the state, though. A high percentage of SNAP recipients are also on Medicaid, a taxpayer-funded health insurance program open to disabled and income-eligible people. 

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On Wednesday, Burbank Republican Sen. Sydney Davis noted the connection between excess soda consumption and health problems like obesity, diabetes and tooth decay. Medicaid dental costs alone add up $51 million a year, she said.

Mitchell Republican Sen. Paul Miskimins, a retired dentist, told the body he once counted 32 cavities and seven abscesses in the mouths of 2-year-old twin boys who were covered by Medicaid.

He attributed the tooth decay to sugary beverages.

“I don’t know if that first visit was more traumatic on the boys or on my dental staff and myself,” said Miskimins.

Tamara Grove, R-Lower Brule, was the lone senator to speak in opposition on the Senate floor. She argued that some stores might stop accepting SNAP payments due to the administrative burden of sorting barred products from the rest of their inventories, and pointed out that the bill wouldn’t do a thing to prevent SNAP recipients from loading up on sugary foods like ice cream or snack cakes.

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“It gives this look as if there’s going to be this big, huge change in the way that people buy products, but it’s really not going to be,” Grove said.

Some surrounding states, including Nebraska, have moved to ask for a waiver to ban soda sales through SNAP. Such waivers are now an option, as President Donald Trump’s administration is willing to consider granting them. Former President Joe Biden’s administration was not.

Rep. Taylor Rehfeldt, the South Dakota bill’s prime sponsor, got a letter last week from Trump administration officials expressing support for her proposal. 

In response, Rhoden spokeswoman Josie Harms told South Dakota Searchlight that the governor “has always been supportive of the Trump Administration’s efforts to Make America Healthy Again,” using a reference to the policy agenda branding used by U.S. Health and Human Services Secretary Robert F. Kennedy Jr.

“We have met directly with his Administration on this issue, and at no point has our opposition been directed at President Trump or his efforts to reform SNAP,” Harms said. “Our focus has always been on ensuring the implementation of SNAP reform works effectively for our state.”

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Harms said Wednesday that Rhoden would answer questions about the bill at a Thursday press conference.



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SD Lottery Powerball, Lotto America winning numbers for Feb. 25, 2026

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The South Dakota Lottery offers multiple draw games for those aiming to win big.

Here’s a look at Feb. 25, 2026, results for each game:

Winning Powerball numbers from Feb. 25 drawing

50-52-54-56-64, Powerball: 23, Power Play: 2

Check Powerball payouts and previous drawings here.

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Winning Lotto America numbers from Feb. 25 drawing

31-32-41-48-51, Star Ball: 06, ASB: 04

Check Lotto America payouts and previous drawings here.

Winning Dakota Cash numbers from Feb. 25 drawing

01-06-21-26-35

Check Dakota Cash payouts and previous drawings here.

Feeling lucky? Explore the latest lottery news & results

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Are you a winner? Here’s how to claim your prize

  • Prizes of $100 or less: Can be claimed at any South Dakota Lottery retailer.
  • Prizes of $101 or more: Must be claimed from the Lottery. By mail, send a claim form and a signed winning ticket to the Lottery at 711 E. Wells Avenue, Pierre, SD 57501.
  • Any jackpot-winning ticket for Dakota Cash or Lotto America, top prize-winning ticket for Lucky for Life, or for the second prizes for Powerball and Mega Millions must be presented in person at a Lottery office. A jackpot-winning Powerball or Mega Millions ticket must be presented in person at the Lottery office in Pierre.

When are the South Dakota Lottery drawings held?

  • Powerball: 9:59 p.m. CT on Monday, Wednesday, and Saturday.
  • Mega Millions: 10 p.m. CT on Tuesday and Friday.
  • Lucky for Life: 9:38 p.m. CT daily.
  • Lotto America: 9:15 p.m. CT on Monday, Wednesday and Saturday.
  • Dakota Cash: 9 p.m. CT on Wednesday and Saturday.

This results page was generated automatically using information from TinBu and a template written and reviewed by a South Dakota editor. You can send feedback using this form.



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