Those record highs in farm income may have tempted folks to spend money instead of socking it away. If farmers and ranchers were like many other Americans, they probably would have done just that. But that’s not how most of us reacted. Sure, we may have bought some new iron, but much of that was a reinvestment in the business and was replacing some very well-used equipment. As farmers, we know that lean times always come back.
Ag Agenda column
Want more news on this topic? Iowa Farm Bureau members may subscribe for a free email news service, featuring the farm and rural topics that interest them most!