Economists Highlight Struggling Farm Economy, Seek Safety Net Changes

Economists painted a gray outlook for the farm economy and called for a stronger federal safety during a congressional hearing meant to set the stage for drafting a new farm bill. Economists from USDA, the Kansas City Federal Reserve, Texas A&M and the University of Missouri all said farm finances look to dip in 2017 for the fourth consecutive year. Farmers are struggling, but not as bad as the 1980s yet and low prices are buoyed by higher yields. Low interest rates and better-than-expected land values are also offsetting at least some of the concerns over higher debt-to-asset ratios.