• Input costs exceed $300 billion for the first time in American history and this is a 120 percent increase from last year.
The topic of prospering farm incomes has increasingly surfaced in conversations both in the media and around the countryside.
Although, farm incomes may be increasing, the numbers are in and the offset due to rising production costs is stifling.
Farm income is estimated to be up 28 percent from 2010 according to the U.S. Department of Agriculture. However, agriculture input costs have exploded, reaching an estimated $320 billion. This exceeds $300 billion for the first time in American history and is a 120 percent increase from last year.
The need for farm policy is essential and NSP will continue to support initiatives to provide our farmers the certainty they need to operate and feed the world.