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Reference prices, nutrition title remain biggest farm bill hurdles

The House Agriculture Committee is looking to complete the new farm bill in the first quarter of 2024.

Minnesota Republican Brad Finstad tells Brownfield updating reference prices continues to be a heavy lift.

“If we were to totally update the reference price to a point that reflects the world that we live in right now with increased input costs and inflation, to get those reference prices to a relative amount we’re talking about an $80 billion lift.”

He says negotiators are trying to determine how to provide an adequate safety net for farmers while acknowledging there are other tools in the farm bill that might be more effective.

“For instance, a stronger crop insurance title would be some place where maybe dollars would be better spent versus trying to tweak the edges of reference prices if you’re not going to do the full meal deal.”

And Finstad says farm bill negotiators on both sides of the aisle are trying to find a balance to move forward on the nutrition title.