Record High U.S. Farm Debt and FFA National Convention
From the Western Ag Network, I’m Bob Larson with your Agribusiness Update.
**U.S. farm debt has climbed to a record level, and ag economists warn the actual amount owed could be considerably higher than government estimates.
USDA estimates farm debt exceeds $605 billion, more than double the amount in 2000.
But traditional government surveys may not fully capture financing provided by equipment manufacturers, ag cooperatives, suppliers and financial tech companies.
These alternative lending arrangements have become increasingly important as farmers contend with financial uncertainty.
**More than 70,000 FFA members, advisors, and supporters are expected in Indianapolis next week for the 99th National FFA Convention and Expo.
Organizers plan to award 5,816 American FFA Degrees, the organization’s highest degree of membership.
The convention’s Expo will give students from across the country opportunities to explore more than 350 careers in agriculture, while workshops and presentations will focus on personal growth and leadership skills.
**USDA projects global food insecurity will decline over the next decade, although hundreds of millions of people will continue to struggle to access enough food.
USDA’s Economic Research Service estimates 884.4 million people, or 19.5% of the population across 83 low- and middle-income countries, will be food insecure.
The agency expects food insecurity rates to decline in most countries, partly due to rising per capita incomes and easing food price inflation.
