Several economic headwinds are combining to create a difficult financial environment for some farmers. Farmers, particularly those raising grain crops, are struggling economically due to a number of key challenges. Sam Kieffer, vice president of public policy for the American Farm Bureau Federation, said this is a rare intersection of high expenses and low income.
Kieffer said the difference between input costs and crop prices is causing the biggest challenge.
Kieffer added that looking at USDA’s farm income forecast, which predicted farm income to increase, doesn’t paint an accurate picture of the farm economy.
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