Income for Farmers Fell By The Most in Three Years

Posted by Christy Caplan
Farmers

This has been a bad year for U.S. farmers. I live in the middle of a rural neighborhood and I'm surrounded by farms. Some of them are cattle farms and others are focused on a huge variety of crops.

I hate to think they're suffering as their work is backbreaking and it's not a 9 a.m. to 5 p.m. gig. (Far from it).

It is being reported that farmer income has dropped at an alarming rate in the last three years.

According to Bloomberg News, there has been a steep decline in farmer income,

"The Commerce Department on Monday cited the steep decline in farm proprietors' income as a key factor weighing on the nation's overall personal income growth in March, even though agricultural producers represent only about 2 percent of total employed Americans."

There are three major factors. The report provided evidence of the growing financial strain on U.S. farmers hit by the trade war, low commodity prices and a series of natural disasters including spring floods in the Midwest.

Modern Farmer tells us the total damage, "which is presented in annualized form--meaning, extrapolated to the entire year--checks in at a loss of $11.8 billion for the personal income of American farmers."

The bad news gets worse.  Trump's 2020 budget was revealed, with massive cuts to programs farmers depend on. 

The American farmer is being profiled in a new documentary about a couple in California that forgo urban living completely and kickstart their longstanding dream of owning a farm. Check out this review of The Biggest Little Farm in the LA Times and you'll get a taste of life as a farmer. 

How do you think we can help our farmers thrive? Tell us in the comments!

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Income for Farmers Fell By The Most in Three Years