Westchester Group CEO Says Lower 2009 Farm Income Won’t Affect Long-term Profits

Because farm income in 2008 was one of the highest on record, the decrease in 2009 did not come as much of a surprise, the Westchester Group reports. “Recent reports from the USDA showed a decrease in 2009 farm income, but agriculture is a strong industry, and I believe this will have very little impact on the industry for the long-term,” says Murray Wise, founder and CEO of Westchester Group, Inc. “There is so much capital looking for a home in agriculture that this will have little impact.”

The Westchester Group manages farmland portfolios for many large corporate and institutional clients and individual investors. “Even today, many investors are turning to agiriculture as a viable investment. While many of us continue to invest our money in money markets currently earning only 0.31 percent, agriculture continues to offer its investors a 3% to 4% return,” Wise says.

He also points out the continuous improvements in seed technology and food production. “The industry simply needs to use these times as a learning tool for the future. I see agriculture prevailing for generations to come,” Wise says. “Times like these are when farmers should be the most optimistic and positive about the future. No one can predict investment futures, but I am confident that agriculture and farmland is a strong investment for the future.”