The latest USDA figures project that net farm income will increase this year to $77.1 billion, the fourth highest level ever.
The 18-month U.S. "great recession" ended a year ago, according to the federal government.
Nevertheless, no one told the economy. Since the proclaimed end of the recession a year ago, the economy has been like a lost marathon-runner searching for the finish line and recovery after completing the 26-mile, and 385-yard course. The economy is still out of gas, struggling to find relief.
John Penson, Jr., regents professor and Stiles Professor of Agriculture at Texas A&M University, told the 29th Annual Agribusiness Management Conference in Fresno, CA, that many economic indicators are worse now than they were when the government declared the recession over in December 2009.
“Things are a little bit better than the last time I was here (a year ago),” Penson says.
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