Agriculture Flourishing as Harvest Underway

By: Associated Press Email
By: Associated Press Email

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The overall economy is suffering, but the farm sector is the bright spot thanks to higher commodity prices and bountiful crops.

The U.S. Department of Agriculture says the ag economy has the
potential to add a record $95 billion in net income to producers. Meanwhile, the value of crop production, at $188 billion, is forecast to exceed the 2007 record by $38 billion. That's a 25 percent increase.

The economic surge has spilled over to farm manufacturers, who can't keep up with demand for new products.

Yet, despite these gains, there are mounting concerns about a
possible disaster not seen since the 1980s farm-economy collapse.
That's because of increasing debt, soaring land values and the
skyrocketing prices for fuel and fertilizer.

The commodity market is volatile too, and fearing drops in prices, some wonder when this golden age of agriculture will end.

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