BRIEF: Crop insurance boosts farm incomes in fourth quarter [St. Louis Post-Dispatch]
|By Georgina Gustin, St. Louis Post-Dispatch|
|McClatchy-Tribune Information Services|
The survey, dubbed the Agricultural Finance Monitor, was based on responses from agricultural banks in seven Midwestern states, including
On average, lenders across the survey area said that fourth-quarter income and spending were higher than the same quarter in 2011.
In previous surveys lenders in
As of last week, the bank said,
"The 2012 drought greatly reduced production, but all of our borrowers carried crop insurance," one surveyed lender told the bank. "Many farmers had higher levels of coverage. This has resulted in good income for most, and most will carry that income into 2013."
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