Farms face steep slide: Net profits this year expected to be half of what they were in 2013 – The Grand Island Independent: State

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Chad Korth was extracting himself from underneath his pickup late Tuesday morning at the same time the U.S. Department of Agriculture was preparing to issue its lowest forecast for net farm income in 15 years. • The timing was coincidental, but the implications of the lifelong farmer and rancher scoping out the spare tire on his truck foreshadowed the USDA’s grim expectations for farm profitability this year. • “I wanted to see if I could use it and not have to buy another one,” Korth said. • Cost-cutting has become a crucial chore on the family farming operation west of Norfolk near Meadow Grove, where Korth and his 76-year-old father raise several hundred head of cattle and manage about 1,500 acres of pasture and row crops. • The Korths have saved money that would otherwise be spent on fuel by avoiding spraying herbicide in some places and moving more acres into no-till production in others, for example.

Source: Farms face steep slide: Net profits this year expected to be half of what they were in 2013 – The Grand Island Independent: State

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