Growing Profits in the Farming Industry

: Chris Lee Law Firm

  Filed under: Economy

Farming and ProfitsThe cultivation of plants and animals dates back to the time of our earliest civilization. Farming has been an essential practice in the development and maintenance of civilization. The industrialization of America revolutionized the farming industry with the invention of mechanical equipment, making farming a highly profitable industry.  The American farming industry has slowed significantly over the years, with the importing of goods from countries that offer cheaper prices.  For many years, the hard-working American farmer has been battling to keep the American farming industry alive.

The Value in Our Heartland

Recent waves in demand have lead to an increase in the value of farm land in Nebraska and Kansas. The recent profitability in produce and livestock drove the value of farm land up nearly 20% from years past. Farmers are able to invest their profits back into the farm with hopes to make 2012 even more profitable.  The U.S. Department of Agriculture estimates the farming industry to reach a record in profitability this year.

The benefits from the increase in farmland value extend far beyond the pockets of the local farmer. Bank economist Brian Briggeman reports, “Agriculture accounts for 1 percent of the $14.3 trillion U.S. economy, and may be as much as 15 percent when related businesses such as farm supplies, grain handling and food making are included.”  The growing farm industry is a good indicator the economy is working hard to turn around American industries.



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