The Department of Agriculture's final report for 2012 says farm income increased despite the drought, because of high prices for crops that made it to market. But the drought is continuing into winter and could affect next year's harvests.
Every year roughly $180 billion worth of freight makes its way up and down the Mississippi River. An epic shortage of water on the nation's major inland waterways is expected to put upward pressure on everything from food items, to electricity.
The Mississippi River hovers at record lows as a result of the drought in the Midwest. It could soon mean big problems for the shipping industry on the river.
Recent rain in Missouri has helped drought-stricken farmers. Cattle rancher Ken Lenox says the grass is practically jumping out of the ground. Despite the promise of new feed, hay prices remain high, and ranchers are closely guarding what they have.
