Farmers at progress show say times pretty good


August 30th, 2012 by Ric Hanson

BOONE, Iowa (AP) — Farmers typically attend the annual Farm Progress Show in Boone to look to the future. They want to see the latest equipment, seed, and chemicals, and they want to learn about where the markets are headed. At this year’s three-day show that ended Thursday, plenty of people spoke about the drought, but they noted the last few years have been good. And even during this hot, dry summer, the harvest might not be as bad as it seems. While some individuals will lose money, farmers overall may earn more than last year’s record net income of more than $100 billion. Crop insurance and commodity prices are helping to compensate for lower yields. The USDA estimates farm income of $122.2 billion in 2012, up about 3.7 percent from last year.