The U.S. agriculture sector is facing significant challenges in 2024, as highlighted by various sources. For only the fourth time in 55 years, the U.S. is expected to have a trade deficit in agriculture. This downturn is attributed to the Biden administration's lack of ambition on trade, putting producers at a disadvantage. Additionally, net farm incomes are projected to decrease by approximately 26%, from $156 billion in 2023 to $116 billion. In response to these challenges, there is a push for the passage of a strong Farm Bill to provide relief for farmers and producers. Furthermore, the Crop Insurance for Future Farmers Act aims to support young producers by lowering the cost of crop insurance. The U.S. Department of Agriculture's Census of Agriculture reveals that the number of farms in the U.S. is decreasing while the size of remaining farms is increasing, a trend exacerbated by older growers and rising production costs.
The number of farms in America is shrinking as growers get older and producing crops gets a lot more expensive, according to the USDA’s Census of Agriculture https://t.co/DZgnTtvkdr
The number of farms in America is shrinking as growers get older and producing crops gets a lot more expensive, according to the USDA’s Census of Agriculture https://t.co/TKV79ti5P7
⚠️ NUMBER OF US FARMS FALLS AND SIZE INCREASES, CENSUS SHOWS (Reuters) Farms in the U.S. continued to get larger and the number of farms fell between 2017 and 2022, new data released by the U.S. Department of Agriculture showed on Tuesday. The Census of Agriculture, taken…
Following reports that net farm incomes are projected to drastically fall this year, it is even more urgent that we help our young producers succeed. My Crop Insurance for Future Farmers Act will help lower the cost of crop insurance for the next generation of #IA04 farmers.
According to the U.S. Department of Agriculture, net farm incomes are projected to fall from $156 billion in 2023 to $116 billion this year — a roughly 26% decrease. That's why we must pass a strong Farm Bill as soon as possible to deliver relief for our farmers and producers.
For only the fourth time in 55 years, the U.S. is expected to have a trade deficit in agriculture in 2024. READ my latest column about how the Biden administration’s lack of ambition on trade has put our producers at a disadvantage. https://t.co/sS36fb2uob