NEWS
Marcia Zarley Taylor DTN Executive Editor
Fri Dec 7, 2012 01:40 PM CST


Droughts No Shock to Farm Income

Using inflation-adjusted dollars, the Great Drought of 2012 shows overall farm incomes are relatively stable, much as they were following droughts in the 1970s and 1980s. But that average includes losses for livestock feeders which are masked by record-breaking income for grains producers, USDA says.

Modern droughts may wreck havoc on the livestock sector, but they just aren't as financially debilitating to crop producers as they were in the last century. In fact, overall 2012 net farm incomes--including both livestock and crops--will slip only 3.3% from the $114 billion accrued last year, USDA forecast ...

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