Even after the worst drought in a half century shriveled crops from Ohio to Nebraska, U.S. farmers are having their most-profitable year ever because of record- high prices and insurance claims.
The U.S. may ship the most beef ever in 2011, after doubling its share of the world market in four years, as demand from Asia revives a $3.84 billion export industry decimated by mad-cow disease.
This year’s agriculture boom is a bust for U.S. dairy farmers as surging costs for cattle feed compound a glut of milk products.
"It is highly likely that a significant part of the additional income will be routed through to pay higher rents on the land, more equipment, machinery, pick-ups, and that type of activity."
- Neil Harl on Jun 27, 2011