According to the USDA, feed costs rose 18 percent this year, and will account for 40 percent of the rise in production costs, Charles Abbot of Reuters reports. Crop insurance will provide the largest increase in farm income, the report says. Production costs are expected to rise by 8 percent this year, which would outpace a gain in crop and livestock income. (Read more)
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Wednesday, November 28, 2012
Forecast says farmers' income to drop 3 percent, due mainly to drought; crop insurance softens blow
According to the USDA, feed costs rose 18 percent this year, and will account for 40 percent of the rise in production costs, Charles Abbot of Reuters reports. Crop insurance will provide the largest increase in farm income, the report says. Production costs are expected to rise by 8 percent this year, which would outpace a gain in crop and livestock income. (Read more)
Labels:
agriculture,
crop insurance,
crop prices,
crops,
drought,
farmers,
farming,
weather
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