This year’s drop in farm income was not a surprise but it has still led to some tough decisions for America’s producers, as well as several equipment manufacturers.
Big brands like John Deere, CNH, and AgCo have reported some revenue declines, which have led to layoffs across several plants. Investors for Deere say they are bracing for a 26 percent drop in income this year. Some manufacturers have even turned to countries like Mexico for labor, saying declines in commodity prices are a major contributor to needed cuts.
They also point to labor issues, which they say is pushing them to use more automated methods.
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