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Reuters: U.S. farm income will drop by 3 percent this year, the result of surging production costs aggravated by crop losses that stemmed from the worst drought in half a century, the government said on Tuesday.
Even so, income would be close to the record high set in 2011, the Agriculture Department said. In a quarterly forecast, it said production costs would rise by 8 percent this year, outpacing a gain in crop and livestock income.
Feed costs are up 18 percent this year, the USDA said. Feed would......
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Drought dents U.S. farm-sector income: government estimate
Posted by Reuters: Charles Abbott on November 27th, 2012
Posted in Water Conservation