Bad Economy? Farmers Have One of Best Years Ever

Monday, 12 Dec 2011 07:13 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

ST. LOUIS (AP) — It's been a good year to be a farmer.

The U.S. Department of Agriculture says farm profits are expected to spike by 28 percent this year to $100.9 billion.

Most farmers say they're using the extra cash to pay off debt and put some money aside. But, they're also investing in new tractors, combines and land.

Dale Hadden has a 4,000-acre farm with his brother and parents in Illinois. He estimates his corn and soybeans were worth 10 percent to 15 percent more than in previous years, which amounts to tens of thousands of dollars. Hadden spent a chunk of that on an advance full-year payment on a seven-year loan on one of his tractors. He says it was a successful year, but it might not always be that way.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Living Large: The Scandal of Bishops' Residences

Friday, 24 Oct 2014 20:31 PM

Camden, N.J., is one of the poorest cities in the U.S. So it was a shock earlier this year when reports surfaced that Bi . . .

Judge Rules Oklahoma Abortion Law Can Take Effect

Friday, 24 Oct 2014 20:09 PM

A new Oklahoma law that requires clinics to have a physician with admitting privileges at a nearby hospital present when . . .

Suspect Arrested in Death of 2 California Deputies

Friday, 24 Oct 2014 19:54 PM

Officials say a second sheriff's deputy has died after being shot by a suspect who has now been apprehended for four sho . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved