Family farms face tough challenges, ISU economist tells House committee
Iowa farmers are being forced to use more working capital and short-term borrowing to meet their cash-flow obligations as market prices have fallen sharply over the last two years, Iowa State University’s (ISU) John Lawrence said in a testimony last week.
Lawrence, ISU associate dean for Extension Programs and Outreach and director of Agriculture and Natural Resources Extension, made the remarks to a subcommittee of the U.S. House of Representatives’ Small Business Committee.
If commodity prices continue to remain low, the financial conditions of most farmers will...
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