The latest postmortem of the severe drought in nine Midwestern states , indicated it was not as bad as it may have been . Net farm income decreased in drought areas by almost $ 10,000 . Farms in all areas continued to maintain their solvency position , and the number of financially vulnerable farms continues to decrease . Farms survived by selling- off inventories , taking advantage of higher market prices , and receiving the drought relief package . The report noted higher prices helped reduce the direct payments to farmers under bush 's commodity programs .
The latest postmortem of the 1988 drought in nine Midwestern states, reveals it was not as bad as it might have been. Net farm income decreased in drought areas by almost $10,000. Farms in all areas continued to improve their solvency position, and the number of financially vulnerable farms continues to decrease. Farms survived by selling- off inventories, taking advantage of higher market prices, and receiving the disaster relief money. The report noted higher prices helped reduce the direct payments to farmers under USDA's commodity programs.