Smaller Incomes at America’s Small Farms as Prices Fall: Chart
(Bloomberg) -- America's small farms are experiencing an earnings drought. Income at farm proprietors, excluding corporate enterprises, slumped 39 percent in September from a year earlier to an annualized $28.1 billion, data from the Commerce Department's personal income and spending report showed on Monday. Earnings, depressed by falling prices for commodities such as wheat, corn and soybeans, haven't been this bad since November 2002.
To contact the reporter on this story: Vince Golle in Washington at vgolle@bloomberg.net. To contact the editors responsible for this story: Scott Lanman at slanman@bloomberg.net, Sophie Caronello
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