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US Department of Ag predicts farm income to drop

Posted: 02/14/14 08:43

The US Department of Agriculture is predicting that nationwide farm income will drop 27 percent over 2014. Along with it, there are reports that farmland values will see a decline. The Wall Street Journal reports that in the second half of last year Nebraskaís farmland prices dropped 1 percent.
President of the Nebraska Farm Bureau says that would be expected with the drop in grain prices, but itís not what heís seeing. The Wall Street journal reports falling prices could cause economic ripples for farmers who need to borrow money for more land or machinery, but Nelson says a change in ag price or value should affect farmers daily operations.