Posted on 08/28/2009 9:48:25 PM PDT by TigerLikesRooster
U.S. farm income to plunge 38 percent in 2009: USDA
By Christopher Doering
Thu Aug 27, 1:16 pm ET
WASHINGTON (Reuters) – U.S. farm income this year was forecast to plunge 38 percent to $54 billion due to lower commodity prices for crops and livestock, the Agriculture Department said on Thursday.
Grain and livestock prices falling from record highs set in 2008 means farmers will see earnings slump by $33.2 billion in 2009 from last year's near record net farm income of $87.2 billion.
The 2009 forecast was $9 billion below the 10-year average of $63.2 billion in net farm income.
The drop comes amid a global recession that has suffocated demand for many U.S. commodities, pushing prices well below their 2008 averages.
"With economic conditions deteriorating worldwide, demand for exports has tailed off, with few options available to expand marketing elsewhere," the USDA said in its report.
"Sharply declining demand in 2009 has forced farmers to accept prices that are lower than were expected earlier in the year when production plans were made," it said.
(Excerpt) Read more at news.yahoo.com ...
Yes. It did work. Over half the farmers sold out and left the area.
Now there is talk about ripping out all the dams on the Klamath River. That will increase seasonal floods and kill whatever agriculutre still exists there in the Klamath Basin.
Oh, yeah. The Klamath Indians are happy about it.
Take that statement to the grocery store and see what you find...
On the other hand, what happened to ethanol project? That is supposed to keep grain price high.Heh... yeah, because we'd be "burning our food"... amazing how a conservative site shelters so many who don't understand markets. Thanks TLR.
The Bum Rap on Biofuels
American Thinker | 5-13-08 | Herbert Meyer
Posted on 05/14/2008 3:59:06 AM PDT by Renfield
http://www.freerepublic.com/focus/news/2015711/posts
Campaign to vilify ethanol revealed
ethanol producer Magazine | May 16, 2008 | By Kris Bevill
Posted on 05/17/2008 9:22:13 AM PDT by Kevin J waldroup
http://www.freerepublic.com/focus/news/2017389/posts
No farms, no food.
Think Ukraine in 1932.
who needs farmers? Doesn’t beef and produce grow prepackaged i nthe lab nowadays?
I was joking, but mind you- the obama administration will likely go after farmers as well because of ‘greenhouse gases’ being emitted by farms, and will mandate that peopel switch from wholesome farm-grown foods to industrial foods (or face fiens and penalties if htey choose to keep livign hte way we have for centuries)- There’s already a movement by the dolts in congress to start regulating the very cqarbon dioxide we exhale- it won’t be long before farms are on the president’s target lsit as well- already self-righteous dolts in states liek VT are pushing to penalize dairy farmers, and suggestign measures to ‘capture cow farts’ to ‘reduce global warming’ (which incidently hasn’t been warmign now for over a decade, and infact has been cooling- but let’s not let hte facts get in the way of a good scam)
I worry about the continued viability of American agriculture. Yesterday we bought a whole pork loin for $1.38 a pound, that was nice at the time but leaves me wondering if I need to make plans to grow my own meat in the future.
I wonder what kind of an insane plan the Obamabots will come up with to “save” agriculture.
I suppose I should be like the woman on TV many years ago when we were having a crisis in agriculture with family farms going bankrupt left and right and Willie Nelson was holding “Farm Aid” concerts. When asked for her thoughts on the situation she gave a classic reply, “I don’t worry about the farmers, I get my food at the grocery store”. I am not kidding folks, I saw this, I remember it because my wife and I were so struck by it that we made it our little “inside joke” for years. They walk among us...and they vote!
They are?
Won’t they loose their jobs too?
It’s about saving a fish called ‘salmon’. To all Indian Tribes in the Pacific Northwest salmon is like a god.
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