In a call to public officials and candidates from the local office to the White House, the National Farmers Union urged “an increase in price supports or (an) economic disaster declaration” to boost federal support for ranchers and growers facing the third year of an income slump. It was the strongest statement yet by a farm organization about the collapse in commodity prices that began in 2014.
“Farm programs should minimize the farm income drop,” said the NFU, the second-largest U.S. farm group. “We call for a corrective action and evaluation of price support levels including an increase in price supports or economic disaster declaration so that farm programs serve their purpose to stabilize farm income in low commodity price circles.”
Net farm income plunged by 54 percent in two years after peaking in 2013. USDA forecasts a 3 percent drop this year. NFU says it will be the lowest net farm income, which reflects the value of production during a year, since 2002.
“Low farm prices are predicted to continue for the next several years, presenting challenges to the survival of farmers and rural communities,” said the NFU board in a resolution. “Family farmers and ranchers call on public officials and candidates for office at the local, state and national (level) to be aware of and responsive to the economic problems facing our nation’s family farmers, ranchers and rural communities.”
Congress is expected to begin preliminary work next year on the update of farm law due in 2018.