Probably of no surprise to readers of the Legislative Landscape, confirmation of a continued drop in farm income by USDA was confirmed by the American Farm Bureau. This report comes at a time when Congress is being asked to pass significant disaster relief funding for rural communities in the Southeast hit by hurricane and related flooding.
USDA is due out today with its latest forecast for farm income, and the numbers are expected to be bad. Look for more new calls for Congress to pass a new farm bill to shore up incomes of row crop producers.
The Agriculture Department is significantly increasing its farm earning forecast for 2022, estimating net cash farm income will reach its highest level in a decade due to the booming prices for crops and animal products.
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