Farmers are feeling the pain of the continued slump in commodity prices, AFBF President Zippy Duvall told Congress on Thursday April 14, 2016. . Lower prices will affect income for all farmers and ranchers, but will have an even greater impact on new and young farmers who have not built up equity, are renting a significant portion of their land or are paying off equipment.
“The bottom line is that farmers and ranchers are being forced to tighten their belts and pay much closer attention to their financial situation,” Duvall told the House Subcommittee on General Farm Commodities and Risk Management. “They will be in greater need of safety net and risk management programs than has been the case for some time—for some, since they started farming.”
AFBF news release
Farms Face Increased Financial Pressure, Farm Bureau President Tells Agriculture Subcommittee
Want more news on this topic? Farm Bureau members may subscribe for a free email news service, featuring the farm and rural topics that interest them most!