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1980 farm outlook gloomy amid high loan rates
USDA economist Howard Hjort warned 1980 will bring high interest costs and rising operating expenses, delaying new machinery purchases and prompting earlier marketing of crops. Despite a potential 20 percent drop in net farm income, he called the farm economy generally strong and noted beginning farmers face the greatest vulnerability.
MENTIONED IN THIS ARTICLE
Agriculture Department
Howard W. Hjort
Congress
Hjort
USDA
Senate Agriculture Committee
Mr. Hjort
Federal Reserve Board