News last update:6 Aug 2012

US farmers worried about their future income

Farmers in the United States (US) expect to invest less money in property and machines. They are also worried about their future income. This is according to the Farm & Ranch Survey from the Rabobank.

A survey among US farmers showed that 90% does not intend to expand the property of their business in the coming year. The percentage of farmers that say they want to sell part of their land increased from 2 to 5%. Two third of the farmers does not plan to buy new machinery in the next year.

The farmers were also asked about their income. Only 5% of the agricultural companies in the US have generated more income from their business then last year. Around 30% of the farmers are really worried about their income in the near future. Research from USDA also showed that incomes from agricultural businesses in the US dropped with 38% in 2009 compared to last year.

Source: AGD

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