At a recent Senate Agriculture Committee hearing, ag leaders Zippy Duvall, President of the American Farm Bureau Federation, and Rob Larew, President of the National Farmers Union, urged lawmakers to modernize the Farm Bill and strengthen risk management programs amid economic struggles faced by farmers and ranchers.
Duvall emphasized that the economic landscape has shifted dramatically since the passage of the 2018 Farm Bill, citing inflation, rising production costs, and the lingering effects of COVID-19. He expressed concern that more than 20% of farmers are struggling to secure operating loans at a time when they should be preparing for the growing season. Many, he noted, are losing significant amounts of money per acre, particularly on corn, and are being forced to make tough decisions about what to plant or whether to forgo renting land, potentially losing future farming opportunities.
A pressing issue, Duvall stated, is the aging farming population.
“What keeps me up at night is who’s going to farm in the future,” he said, pointing out that 40% of farmers are over retirement age, while many younger farmers work off-farm jobs to sustain their operations. He called for policies that make farming a viable career for young people and ensure a stable agricultural economy in rural communities.
Duvall stressed that crop insurance remains the “cornerstone of the Farm Bill,” providing farmers with a necessary safety net against unpredictable market fluctuations and natural disasters. He urged lawmakers to ensure that risk management tools are accessible to all farmers, regardless of size, production method, or commodity type.
Larew echoed Duvall’s concerns, sharing the story of a farmer who expanded operations by renting additional land and purchasing new equipment, only to face financial hardship when prices dropped. Now forced to sell equipment at a loss and struggling to pay off loans, the farmer is uncertain about his future in agriculture. Larew warned that both new and established farmers are facing financial difficulties, with some depleting their equity just to stay in business.
He called for expanded risk management options and additional support for beginning farmers, proposing creative solutions to help new entrants navigate financial challenges. Strengthening crop insurance and other safety net programs, he argued, would provide much-needed stability in a volatile agricultural economy.
Both leaders urged lawmakers to prioritize policies that will protect farmers from economic uncertainty and support the next generation of agricultural producers.
CLICK HERE to watch the full video of the Senate Ag Committee hearing.
