AMARILLO, TEXAS -- The worldwide recession may finally be invading the commodity business. There are reports that farm profits this year are off a whopping 38%.
The reasons are that producers had to pay higher than usual costs for fuel, seed, and fertilizer for this year's crops.
Plus livestock and dairy producers are feeling lower profits, and the selling prices for wheat and corn are down to about half of what they were last year. Through it all, the Panhandle may come out on top.
NAWG Past President David Cleavinger told Pronews 7, " The good news is that the Texas Panhandle has had a tremendous summer as far as summer crops go. We've seen rainfall throughout the Panhandle and we're going to see a pretty good Fall harvest it seems to be currently."
Cleavinger also said the late freeze that we had this Spring also affected this year's early wheat crops.
