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Friday, September 2, 2011

Strong Farm Income

With the release of the current U.S. export forecast for fiscal year 2011 at $137 billion, $22 billion higher than the previous record set in 2008 and $28 billion above 2010, U.S. farmers have something to celebrate. These strong numbers are in spite of droughts, floods, tornadoes and hurricanes.

U.S. Agriculture Secretary Tom Vilsack commented that, “Despite the setbacks, American agriculture is thriving; demonstrating again that the men and women who own and operate America’s farms and ranches are some of the most resilient in the world.”

Our farmers and ranchers are showing their strength and foresight. Not only are they focusing on exporting their crops; but also finding ways to make local connections with schools, hospitals, grocery stores and individuals.

Agriculture is a bright spot in the U.S. economy. With increased farm income, agricultural real-estate prices have been driven to record highs in some parts of the country.

The USDA’s Outlook for U.S. Agricultural Trade FY 2012 has exports remaining at $137 billion with imports rising; the trade balance for 2012 is expected to be a surplus of $32 billion, the third highest ever. 2011’s surplus of $42.5 billion remains a record.

So we congratulate, celebrate and thank our farmers for a job well-done!

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