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Kansas Ag News Headlines |
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Roberts Examines Farm Credit System in Rural America
Kansas Ag Connection - 05/20/2016
U.S. Senator Pat Roberts, R-Kan., chairman of the Senate Committee on Agriculture, Nutrition and Forestry, Thursday held a hearing on the Farm Credit System.
The hearing, titled "The Farm Credit System: Oversight and Outlook of the Current Economic Climate," had two panels.
"Farmers and ranchers all across the country are experiencing difficult economic conditions as farm sector profitability is forecast to decline for the third straight year," said Chairman Roberts. "Over the past three years alone, net farm income is expected to
decline by 56 percent."
"For farmers, every year is a high stakes bet as they put their confidence in their crops, livestock, and the business decisions they make throughout the year. While farmers continue to manage their risk through a period of low commodity prices and stubborn high
input prices, it is important we begin discussions regarding next year's borrowing decisions."
"To date, the Farm Service Agency has seen a 21 percent increase in farm loans as compared to last year -- a further troubling indication of a struggling agricultural economy."
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