A new survey by Rabobank shows that income for U.S. farmers and ranchers improved over findings of two prior surveys. Beef, dairy and row crop farmers surveyed in the Rabobank U.S. Farm & Ranch Survey reported a 24% improvement in income since fall 2009, while about half of U.S. producers state that their income was worse when compared to last year.
Half of producers expect income to improve while half expect income to decline in the next year. The survey found that 43% reported a decline in profitability. About 20% more producers reported higher costs. View a full copy of the report online at the Rabobank website.