Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm Programming Radio Oklahoma Network  |  7401 N. Kelley Ave. Oklahoma City, OK 73111  |  (405) 841-3675  |  Fax: (405) 841-3674

advertisements
   
   
   
   
   
   
   
   

Agricultural News


Senate Ag Committee Thanked by Wheat Growers for Attention to Farm Economy at Recent Hearing

Thu, 25 May 2017 11:09:58 CDT

Senate Ag Committee Thanked by Wheat Growers for Attention to Farm Economy at Recent Hearing Today, the Senate Committee on Agriculture, Nutrition, and Forestry held a hearing to examine the farm economy in rural America. Members heard testimony from USDA Chief Economist Robert Johansson who spoke on several domestic and global factors generating low commodity prices and the financial implication this has on farmers. Additional witnesses included Nathan Kauffman, assistant vice president and Omaha branch executive with the Federal Reserve Bank of Kansas City; Bruce Weber, professor emeritus of applied economics and director of the rural studies program at Oregon State University; and Alec Sheffer, director of retail sales for Agri-AFC.



NAWG President David Schemm made the following statement:



“With the rural economy struggling and farm income down 46 percent from only three years ago, growers are enduring some of the toughest economic conditions since the 1980s. Farmers have also had to deal with severe weather issues, making the Farm Bill a key tool to enable them to farm another year.



“Low commodity prices have led to farmers to take on more debt to continue operating, as such producers’ debt-to-asset ratios have grown rapidly. USDA’s Chief Economist Dr. Robert Johansson testified that nearly 8% of wheat producers are considered to be ‘highly leveraged’ and over 16 percent are ‘very highly leveraged’.



“Farmers have had to deal with a rapidly declining market, and months and years of sustained low prices will make each passing year more difficult to get by, particularly for young and beginning farmers who weren’t able to build up reserves during the high price years.



“The economic conditions of the past few years have also contributed to a drop in planted wheat acreage. Plantings for 2016-2017 winter wheat are at the lowest level since 1909, and it is anticipated that overall planted acres of wheat will be at historically low levels this year. Compounding these factors has been growing impact of wheat streak mosaic virus in my neck of the woods which is causing a big yield hit to the wheat that survived the blizzard.



“NAWG applauds the Senate Committee on Agriculture for holding this hearing to evaluate the economic conditions in rural America.”



Source - National Association of Wheat Growers





   

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Monday Market Wrap-Up with Justin Lewis  Mon, 18 Dec 2017 14:05:37 CST
  • Monday Afternoon Market Wrap-Up with Carson Horn   Mon, 18 Dec 2017 13:58:02 CST
  • NCBA Environmental Guru Scott Yager Exposes the Courts Fallacy of Including Ag Under Superfund  Mon, 18 Dec 2017 13:25:55 CST
  • Senate Ag Committee Chair Pat Roberts Touts Tax Reform Conference Report- WIll Be Helpful to Farmers and Ranchers  Mon, 18 Dec 2017 04:06:27 CST
  • Farm State Lawmakers Help Craft Final Deal Beneficial to Farm Coops in Tax Reform Conference Report  Mon, 18 Dec 2017 04:02:34 CST
  • Oklahoma Senator Inhofe Touts Benefits of Tax Reform Conference Report to Oklahoma Ahead of Likely Vote This Week  Mon, 18 Dec 2017 03:54:41 CST
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Friday, December 15, 2017  Fri, 15 Dec 2017 14:52:48 CST
  • Pork Producers Hail Organic Rule Withdrawal, Thank Perdue for Listening to Farmers' Concerns   Fri, 15 Dec 2017 14:25:55 CST

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Livestock Exchange Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Tulsa Farm Show Stillwater Milling American Farmers & Ranchers KIS FUTURES, INC. Oklahoma Cattlemen's Association

    Search OklahomaFarmReport.com

    Find more about Weather in Oklahoma City, OK

       
       
    © 2008-2017 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup

    WebReady powered by WireReady® Inc.