Farm Income Up 25%
Overall farm income in the U.S. is looking up, in fact, it may set a record for 2004.
Analysts are trying to determine if the trend will continue.
The U.S. Department of Agriculture reports net farm income this year is up 25 percent.
Terry Franzel, economist with the American Farm Bureau, looks for economic expansion, but at a slower rate next year.
“As far as the economy is concerned, and the farm income, it appears to have very good prospects, though it may not be at the level experienced this year,” Franzel says.
Franzel believes the economy should remain strong next year, but might not be as robust.