“The USDA projected farm incomes this year will drop by 36 percent from 2014 to $58.3 billion due to declining crop and livestock prices. The forecast is down 20 percent from the USDA’s February estimate of $73.6 billion.”
And GDP increased? If the rest of this year goes up in any fashion, you know the books are cooked.
PS Vilsak Ag Sec is ‘heartened’ by the loss. Coulda been worse, he says.
If the rest of this year goes up in any fashion, you know the books are cooked.”
Well, this had to be partially because of all the back to school supplies, although locals in our city are claiming they provided free supplies and backpacks for as many as 15,000 “poverty ridden” families. Then we have Thanksgiving coming soon to be followed by Christmas and everyone knows we’ll spend all our extra money on more stuff this year. Just lots and lots of opportunities except that in reality most of us are trying to figure out how we’re going to pay the tax bills this year, high utility bills because of hot, dry weather and stretch our food dollars as far as possible in spite of unbelievably high prices.