Economist: Crop yield down, but price spike levels revenue
Chad Myar grows corn and soybeans and houses 44,000 chickens on his farm 20 minutes north of Madison. In the wake of the severe 2012 drought, Myar said his farm was “doing all right.”
His yields of corn and soybeans declined by 30 to 40 percent because of the drought, yet his poultry and eggs generated consistent revenue.
Wisconsin farmers and residents are still exploring the widespread and lingering effects of last year’s drought. And yet, according to an estimate from the 2013 Status of Wisconsin Agriculture report, released by the Department of Agricultural & Applied Economics at UW-Madison in January, the state actually reached its second highest net farm income on record last year.