Wednesday, October 13, 2010

Farms gain MONEY

Scott Kilman compiled a very statistical analysis of how the growth of farms economically are increasing in the Wall Street Journal. On a more interesting scale, the American farm belt is doing fairly well even though the American economy as a whole is still struggling out of the recession. Globally, the Asian economic bloom is supporting the American farming sector with Asia's exports. Even the cotton belt owned by America is starting to see a betterment economically. These cotton farms are able to sell for more while producing more products with newly bought machinery.
Overall, the USDA projects net farm income to climb 24% this year to $77.1 billion, the fourth highest ever. In September, farmers were being paid 62% more for hogs than a year earlier, and 32% more for milk.
 This unexpected growth in the farming industry of the United States can only benefit the efforts in trying to bring the overall American economy back on its feet. The main fact is that the American producing sector is doing well. The production unit of America is the base foundation of a good economy. A producing country that is able to escape the hole that drags nations into becoming a consuming nation, aka present day US, can finally look towards gain instead of lose. Hopefully the farm belt will continue growing positively and start bringing other sectors of production in America economy back up.


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