Perdue: Farm Economy Is Bad, But Not As Bad As In Years Past

Saying it's bad, but not as bad as it's been in the past, Ag Secretary Sonny Perdue says he has a realistic view of the current state of the farm economy.  He spoke at the recent National Feed and Grain Association's annual convention.

"There's no doubt that the working capital has decreased. Farmers have utilized their working capital and it's diminished. The debt load is up, but the debt asset ratio is still not in serious jeopardy at this point in time."

At the same time, Perdue said the dairy sector has been the hardest hit.

"And the Farm Bill is going to be extremely helpful for those dairies, particularly dairies with up to about 250 cows, under about five million pounds of milk. But the safety net for them is going to be increased significantly. I think they will be in much better shape, probably begriming in June when we get the Farm Bill implemented," Perdue noted.

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