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Farm Bureau president raises concerns about farm viability

The president of the American Farm Bureau Federation says declining farm incomes threaten the future sustainability of family farms.

American Farm Bureau Federation President Zippy Duvall tells Brownfield, “We’re really concerned about some of our farmers being able to get operating loans this year, it’s been a very, very difficult time.”

This week USDA forecast net farm incomes for the year to decline by four percent to more than $140 billion. Over the past two years, Duvall says row crop producers have lost more than $50 billion.

“And you couple that with the ag trade deficit along with the economy that we’ve been working with and inflation, all those put together really put a strain on our family farms,” he shares.

Brownfield interviewed Duvall during this week’s Michigan Farm Bureau State Annual Meeting in Grand Rapids.

Net farm income for all producers is down nearly 25 percent from two years ago.

USDA is forecasting crop farmers to experience the largest decline in net farm incomes, with corn receipts down 20 percent, soybeans down 12 percent, and cotton down nearly 27 percent.

Most livestock producers are projected to have higher income with egg producer receipts up by nearly 40 percent while turkey receipts are down by more than 43 percent. Cattle and calf receipts are forecast to increase by more than 7 percent, milk receipts are up 11.5 percent, and pork is estimated nearly 6 percent higher.