Agriculture Reference
In-Depth Information
And, fulfilling the prophesies the CED made in the 1940s, the largest commercial enterprises now dom-
inate sales of farm goods, accounting for 73 percent of U.S. farm income in 2010. These 115,000 industrial
operations grossed over half a million dollars and had an average net income of $264,000.
Even though the price of crops has increased since 2006 for a combination of reasons, including ADM's
success in lobbying for corn ethanol incentives, speculation, and drought in many regions of the world, net
farm income has failed to keep up with the cost of inputs. Agribusiness consolidation has inflated the cost
of seeds, fuel, fertilizer, feed, and other inputs, while higher commodity prices have meant lower govern-
ment payments.
Wise says, “So much for a boom for family farmers. High prices for their products have been gobbled
up by rising expenses, government payments have fallen, and, more recently, the recession has signific-
antly contracted the off-farm income that these farm families depend on to make ends meet.”
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