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August 31, 2009

WSJ: Recession hits down on the farm

From the Wall Street Journal:

Recession Hits Down on the Farm
By SCOTT KILMAN and LAUREN ETTER

The American farm, which has weathered the global recession better than most U.S. industries, is starting to succumb to the downturn.

The Agriculture Department forecast Thursday that U.S. farm profits will fall 38% this year, indicating that the slump is taking hold in rural America. Much of the sector had escaped the harsher aspects of the crisis, such as the big drop in property values plaguing city dwellers and suburbanites.

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August 31, 2009 in Current Affairs, Farming | Permalink

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