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The outlook at this time lor Virginia's farmers indicates a worsening costincome squeeze. Dr. Berkwood Farmer. Chief Economist with the Virginia Department of Agriculture and Consumer Services said. This situation is due to the sluggish U.S. economy, high interest rales, inflation, and low market prices that will continue for many crops throughout the year.
Dr. Farmer noted that w hatever the income measure used to analyze Virginia’s farm economy for 1982, profit to farmers is low. Net farm income is projected to he down if one uses the gross income measure; and. the farmer will receive about 92 cents for every dollar spent (or less than his cost) if one uses the measure of income from the sale of crops and livestock.
According to Dr. farmer's report at this year's end. farm income from the marketings of crops, livestock and livestock products is expected to he in the neighborhood of $1.5 to $1.6
53.6%