Crops News

Farm economy expected to worsen, FSA loans even more vital

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Please put funds into the USDA Farm Service Agency (FSA)! That was the message detailed this morning in a letter sent to leadership of the House and Senate Appropriations Committees from the American Soybean Association (ASA) and a coalition of farm, food, and rural advocacy groups led by the National Farmers Union.

The group encouraged lawmakers to adequately fund the FSA to provide a robust risk management framework for farmers in the current lagging farm economy.

“With the farm economy only expected to worsen, access to credit, specifically credit provided through the U.S. Department of Agriculture (USDA) Farm Service Agency’s (FSA) Farm Loan programs, is critical,” the groups wrote.

Highlighting the continued outlook for trouble in the farm economy, the groups noted that funding will be essential as farmers look to secure operating loans in the coming seasons.

“The outlook for 2017 grain and livestock prices appears to be no better than in 2016, likely meaning FSA loans will be even more vital to the financial viability of farm and ranch operations. The added funding will help FSA avoid backlog issues faced last year and during the beginning of this year,” the groups state in the letter.

A full copy of the letter can be found here.

Any views or opinions expressed in this article are those of the author and do not reflect those of AGDAILY. Comments on this article reflect the sole opinions of their writers.
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