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FAPRI-MU outlook shows continued downturn
The latest projection from the Food and Agricultural Policy Research Institute says the farm debt-to-asset ratio is rising. The FAPRI-MU March baseline for agriculture and biofuels markets says net farm income could fall for the fourth straight year THIS year. Even with a modest recovery in farm income next year and beyond, the report says pressure on farm finances is expected to continue.
The report says net farm incomes has declined by nearly 50% since its peak in 2013. Payments in the ARC, Agricultural Risk Coverage, program in the current farm bill is expected to rapidly decline. The report considered 500 different outcomes.
The report is prepared each year for Congress to use in forming ag policy – and this year all eyes are on the upcoming 2018 farm bill and what it will be.
FAPRI-MU director Pat Westhoff said at today’s Abner Womack Missouri Agricultural Outlook Policy Conference the risks right now are high on both the downside and the upside for producers.
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