Survey Shows Farm Financial Stress Remains

A Texas A&M survey of 64 farms in 20 states showed only one made money on the 2016 crop.

Economist Dr. Joe Outlaw testified in front of the House Ag Committee this week on the state of the farm economy.

“Corn farmers from North Dakota and Iowa, as well as cotton farmers from West Texas indicated the only reason they broke even in 2016 were record yields. Generally all the rest indicated that 2016 was a loss year where they had to roll operating notes forward or draw from reserves to pay off operating loans. Most indicated their equity positions were down at least 20 percent from 2013.”

Outlaw also noted that they’ve already cut as many inputs as possible and that he was told by farmers that there is no more left to go.