Indiana crop, livestock production value increases 73 percent since 2002, ag census reports

In Indiana, the 2007 Census of Agriculture was released and showed that the value of Hoosier land and crop output value grew 73 percent between 2002 and 2007, according to the state. Crop and livestock production increased to $8.3 billion for the period, but analysts warned that 2007 conditions were no longer present in the market, such as a weaker US dollar and growing demand for corn from the ethanol industry. The crash in oil prices and subsequent fall in ethanol prices, has forced corn ethanol producers to halt production or file for bankruptcy in many cases, with a depressive effect on corn prices.

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