Farmers are expected to see total income increase overall in 2020, though their accounting spreadsheets might indicate otherwise.
Farmers in 49 Virginia counties who suffered losses from last year’s excessive heat and drought may be eligible for U.S. Department of Agriculture Farm Service Agency emergency loans.
Farm bankruptcies in 2019 increased nearly 20 percent nationwide, but there was no significant increase in the number of Chapter 12 filings in Virginia.
A series of financial planning workshops for the agricultural community are being held in January and February.
Americans are buying more food but spending less of their disposable income on it.