Calls About Financial Strain are Increasing as Farmers Wait for Federal Assistance

By Theodore Ball

As the U.S. Department of Agriculture prepares to give $11 billion to farmers across the U.S., row crop producers are continuing to see a yet another year of financial strain.

Last spring, Michelle Soll, the farm and ranch project director for the Rural Response Hotline, told Nebraska Public Media the hotline had seen a sharp increase in calls about financial distress. Nearly nine months later, it still remains a prominent hotline subject.

“The most prominent calls.... Or the most calls that we have right now are the financial distress. It’s farmers and ranchers kind of wanting to get a second opinion, wanting their cash flow reviewed, or might have a demand letter,” Soll said. “Anything along those lines. But it’s pretty much financial distress.”

Soll said the hotline has continued to see an increase in calls from farmers seeking financial consultation. She said continuously decreasing commodity prices, the loss of foreign markets, and rising input costs are driving much of the stress, especially for row crop producers.

“It’s basically the low commodity prices and the 12% or so increase in input.” Soll said. “And you take it $3 to $4 off of a bushel of beans, that really affects the farm economy.”