Farm income is declining, and Ag Secretary Sonny Perdue says crop yields won’t make up for it this year.
“It’s not a very rosy picture right now.”
Farm income is expected to be 50% below the peak of 2013
ad 23% below the historical average over the last two decades
Perdue told ag lenders meeting in Washington Tuesday,
“It looks very questionable whether much of our agriculture this year will benefit from those record setting yields we have seen and that makes our job and your job even tougher as we help get our producers through that.”
Loan demand is up, access to working capital is down and
farm bankruptcies are rising.
Continue reading Perdue: Farm financial situation “not a rosy picture” at Brownfield Ag News.
