Pulaski Times

The farm economy has faced significant challenges in recent years, prompting the Senate Agriculture Committee to focus on delivering necessary relief and assistance. The committee, led by its new Chairman, recently held its first policy hearing of the 119th Congress. Several agriculture industry leaders and farmers were invited to Washington to share their experiences.

This hearing is part of a series aimed at examining the current state of America's rural economy from the perspective of farmers, ranchers, and rural leaders. These insights will guide the drafting of a new farm bill designed to support farm families in an unpredictable world.

Committee members have heard directly from farmers about difficult conditions such as high interest rates, elevated production costs, and depressed commodity prices. Since 2022, agricultural producers have lost over $50 billion, with net farm income expected to decline further.

Jennifer James, a rice farmer from Newport, Arkansas, testified that 2024 was "the most difficult year financially that we have endured." Nathan Reed, a cotton farmer from Marianna, shared similar concerns about steep losses due to increased input costs and low commodity prices.

The Agricultural and Food Policy Center at Texas A&M University reports that its crop outlook is "the worst in terms of the number of farms in each of the four commodity types (feed grains, cotton, rice and wheat) that are not currently expected to have a positive cash flow over the next five years."

The committee's highest priority for the next farm bill is improving the farm safety net. The goal is for every farmer in every region to access modernized risk management tools regardless of their commodity. Without modernization, agriculture could face further consolidation as more farm families leave the business.

Agriculture producers across Arkansas and the country rely on Congress to update vital programs that help them continue feeding, clothing, and fueling the world. The Senate Ag Committee is committed to prioritizing this task until completion.