Business: Farm Turnaround

On the farm, the outlook was not so good. The Agriculture Department predicted last week that net farm income in 1959 may drop 5% to 10% below 1958, after a year of the highest farm profits in five years (see chart). Hog and poultry prices are expected to decline, and crop prices will be lower as a result of this year's record crop and surpluses. Next year's crop may be equally large, or larger, partly because the Government will scrap soil-bank payments to farmers for underplanting their acres, thus depriving them of $700 million...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!