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TOPEKA, Kan. (AP) - A farm economist with the Kansas Farm Management Association says gross income for farms is down by at least 20 percent in the state.
Last year southwest Kansas farmers averaged about $56,000 in accrual net farm income, a $50,000 drop from 2013.
Doug Stucky is currently visiting farms across the region working on year-end planning.
The U.S. Department of Agriculture predicted in November that net farm income in the country will drop about 40 percent to $55.9 billion this year, reflecting depressed crop prices and a softening livestock market.
The decrease in income has affected companies that manufacture equipment as well. Randy Veatch, vice president of sales for Straub International, says agricultural manufacturers are reporting a nearly 30 percent decline in sales since about 2013.
© Associated Press
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