According to the new Rabobank U.S. Farm & Ranch Survey, year-over-year income for U.S. farmers and ranchers has improved significantly over findings in the previous two surveys.
“What’s happening on U.S. farms and ranches mirrors the global economy – we’re beginning to see improvement,” said John Ryan, president and chief executive officer for Rabo AgriFinance. “That improvement translates into some encouraging – albeit patchy – signs of recovery.”
The Spring 2010 Rabobank U.S. Farm & Ranch Survey results show that U.S. producers report a 24 percent improvement in income since Fall 2009 while about half of U.S. producers state that their income was worse when compared to last year. For example, in the North Central Region in Spring 2010, only 58 percent stated their income is worse. In Fall 2009, 82 percent of respondents said the same thing, demonstrating a 24 percent improvement – and highest regional improvement.
Future income expectations show the highest index value since the inception of the Rabobank U.S. Farm & Ranch Survey in 2008. Producers expect equal amounts of income improvement and income deterioration in the next 12 months.
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