Agriculture Faces Difficult Future

The American farm sector is anticipating a rough few years, some farmers and farm experts are reporting.

For the past few years, American farmers have experienced remarkable highs and devastating lows. Farm incomes have reached astronomical levels, with high demand for ethanol, rising land values, and increased farm exports boosting profits across the country.

At the same time, however, farmers have experienced devastating climatological difficulties. For most of last year, farmers across the country have suffered from a devastating drought, one that crippled production across the nation. Severe drought conditions are expected to continue throughout the winter and into next summer, indicating a hard year for many farmers who have only made ends meet thanks to federal crop insurance programs.

Compounding those natural difficulties, farmers are anticipating heavy spending cuts as part of next month’s sequestration deal, cuts that may be added to the anticipated deductions in the 2013 Farm Bill.

Reduced farm spending, particularly reduced disaster spending and crop insurance financing, could ruin many farmers if next summer’s drought is as bad as last summer’s.

To learn more about agricultural financing opportunities contact a Farm Plus Financial representative by calling 866-929-5585 or by visiting www.farmloans.com.

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Written by: Justin Ellison / Farm Plus Staff Writer