by Ken Root
The USDA’s Economic Research Service has some bad news about the year we just completed. Net Farm Income is expected to have dropped by twelve to fourteen percent from 2015 which was down from 2014.
Is there anyone to come to the rescue? The Farm Service Agency says it is the longstanding safety net for farmers in tough times.
USDA Farm Service Agency administrator Val Dolcini FSA programs play an important role in providing financial stability for farmers and ranchers. Speaking in South Dakota, Dolcini talked about the agency’s 2200 offices, and their work with farmers across the country.
Dolcini says multiple generations have utilized programs from FSA and today they are still there to loan money or guarantee credit to farmers and ranchers.
“We also just completed a year that saw us lend or guarantee to $6.3 billion worth of credit to farmers around the country. The fact that that’s a record breaking number for us really speaks to the need for USDA Credit. We use to be known as the lender of last resort, I prefer to think of us as the lender of first opportunity,” Dolcini said.