Farmers and agricultural groups calling for action on the farm bill. The farm bill, passed every five years, supports farmers and ranchers with government subsidies and programs. It has become a cornerstone of U.S. agricultural business and is set to expire at the end of the month, leaving the sector in uncertainty.
Some agricultural economists say the farm economy is collapsing. Purdue University’s Farmer Sentiment Index dropped to an eight-year low last month, indicating a notably bleak mood among farmers.
According to a recent University of Missouri survey, half of agricultural economists believe the farm economy is already in a recession.
Three hundred agriculture groups signed a letter to House Speaker Mike Johnson and other congressional leaders, urging Congress to ease farmers’ economic burdens.
In the letter, farmers describe their current woes, including the U.S. Department of Agriculture forecasting a 27% drop in net farm income compared to two years ago.
Since the beginning of the year, the harvest price of major crops has fallen by an average of 21%, partly due to an oversupply of certain crops this season, while total production costs remain near record levels, according to the American Farm Bureau Federation.
“How many people, how many families, could withstand losing a quarter of their income in two years?” Zippy Duvall, the federation’s president, asked. “If these same numbers reflected the overall economy, we would have heard talk of a recession already. What we’re seeing in the farm economy isn’t just a hiccup — it’s evidence of an agricultural recession.”
Farmers are banking on Congress to act on the farm bill to secure government funding, and they are expected to be on Capitol Hill to make their case to Congress members.
Without action, many family farms fear they could struggle to survive in 2025 and beyond.
