Farm Income Up, Subsidies Down
7/19/2010 9:31:39 AM
Iowa Farm Bureau Spokesman
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Farms in Iowa and across the country are generating higher net income with drastically less government support, according to the latest report from the Census Bureau.
The report, released last week, pegged national net farm income at $87.3 billion in 2008, up sharply from $50.7 billion in 2000. Meanwhile, government payments to farmers nationwide in 2008 totaled $12.2 billion or half of the $24.4 billion in 2005. The decrease in government payments was steeper that the national average in Iowa and a few other states, the Census Bureau reported. Iowa saw a decrease of 65 percent of its government payments from 2005 to 2008, as prices for commodities rose well above support levels, it said.
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