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Marketplace: Farmers Have Been Relying on the High Value of Their Land to Get Them Through Years of Low Commodity Prices

News / In The News May 18, 2018

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Land accounts for 80 percent of farm assets, according to the Agriculture Department. As a result, farmers are using their land as collateral against loans when facing low commodity prices, but the amount of production that farmers need to service their debt is rising, noted a Marketplace radio story. John Newton, AFBF’s director of market intelligence, commented on how farmers may be affected if poor commodity prices continue. “You can easily start putting together a scenario where things start falling apart pretty quickly,” Newton told Marketplace.

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The Agriculture Department has announced a limited opening of a select number of county Farm Service Agency offices for three days only for limited services related to select farm operating and farm ownership loans, and to work on processing 1099s related to these loans.

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The challenge farmers and ranchers in western states have when it comes to public lands has its roots back in the revolutionary war, when states were fighting for self-governance, according to George Wentz Jr., a partner in the Davillier Law Group, who presented at the American Farm Bureau (AFBF)’s 100th Annual Convention in New Orleans.

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