Keeping tabs on trade aid 2.0
Story Date: 9/6/2019

 

Source:  POLITICO'S MORNING AGRICULTURE, 9/5/19

USDA has received more than 175,000 applications from farmers seeking payments for their 2019 production, and $2.46 billion has been paid to date, your host reports.The latest aid comes on top of $8.6 billion producers received for their 2018 production under last year's trade relief plan, which drew more than 1 million applicants.

Where the money's going: Row crop growers, hog farmers and dairy producers have received the most funds, followed by cherry and pecan growers, a USDA spokesperson told POLITICO on Wednesday. The money has flowed heavily to Midwestern states led by Illinois, Iowa, Minnesota, Kansas and Indiana.

Making a difference: The taxpayer dollars have buoyed farmer income amid a continued slump in the ag economy, which is struggling under low commodity prices, trade headwinds and rising farm debt levels.

John Newton, chief economist for the American Farm Bureau Federation, pointed out that without federal support, farm income this year would total $69 billion, according to USDA estimates. That would put 2019 income in the bottom half of all years since 1929, accounting for inflation.

























   Copyright © 2007 North Carolina Agribusiness Council, Inc. All Rights Reserved.
   All use of this Website is subject to our
Terms of Use Agreement and our Privacy Policy.