Food Alert: Over Half of Indiana Has Crop Damage

wpid-farmland-indiana5.jpg

Via Indiana Economic Digest

Gov. Mike Pence and Sen. Joe Donnelly are seeking a disaster declaration to help farmers whose crops have been damaged from the summer’s high rain levels.

In 50 counties, reported crop damage and losses have met or exceeded 30 percent of a crop, and three counties have experienced a significant number of damages and losses to multiple crops, according to a news release. Under a disaster designation, low-interest emergency loans will be made available to all producers suffering losses in that county, as well as in counties contiguous to a disaster-designated county.

The National Weather Service reports rains set a statewide June rainfall record with a state average of 8.99 inches. The previous record was 8.13 inches set in June 1958.

Continue reading →

Indiana Farm Sale Blowout: $16,200 Per Acre

image

Via Indiana Economic Digest

Elliott Farm sells at $16,200 per acre
Elliott Farm, located near Poseyville, recently sold its 69 acres at auction for $16,200 per acre, or $1,117,800 in total.

The farm had been held by the Elliott Family since the early 1940s and was purchased by a local farmer who was represented by proxy. According to auctioneer Andrew Wilson, the price per acre is a record for this area

USDA: 97% of Farms Owned by Families

image
USDA came out with some new numbers on who owns farms in America:

About 2.1 million farms in the U.S., 97 percent are what the report calls “family farms,”according to the the USDA’s 2012 Census of Agriculture Farm Typology.

Other key facts included in the report stated that 88 percent of those 2.1 million farms are classified as “small family farms” — operations with a gross cash farm income (GCFI) of less than $350,000 per year. Those small family farms contribute nearly 60 percent of all direct sales of product from farms to consumers.

H/T Indiana Economic Digest

U.S. Farmers Are Exceptional

image

Kokomo Tribune writer Josh Sigler provided a good investment piece about why farming is an excellent investment. I blog about farmers and farming because the lack of respect towards the industry by people is simply naive. Here’s a snippet of the article that should give the world pause in how exceptional farmers in the United States are:

In 1928, the world’s population was 1.2 billion people. The United States made up 10 percent of that population, and at the same time, provided 10 percent of the world’s agricultural output.

By 1968, the world’s population had ballooned to 3.5 billion. The U.S. made up 6 percent of the world’s population, but increased its agricultural output, providing 20 percent of the world’s crops, doubling the output in 40 years.

Those numbers continued along the same path, and by 2012, the world’s population rose to over 7 billion. The U.S. now makes up 3 percent of the world’s population, but in modern times, produces 30 percent of the world’s agricultural output.

The world has a long way to go in catching up to the United States.

H/T Indiana Economic Digest