Falling Farm Income May Hurt Ag Equipment Makers

NEW YORK (AP) — The likelihood of a big drop in farmers' income this year is dimming prospects for sales of companies that supply such agricultural equipment as irrigation systems, an analyst said Friday.

The Agriculture Dept. said Thursday net farm income will fall this year to $54 billion, down 38 percent from the preliminary estimate of $87.2 billion for last year.

Further, the 2009 forecast is $9 billion below the average of $63.2 billion in net farm income earned in the previous 10 years. ...