Ag Secretary Tom Vilsack said more than half of U.S. farms haven’t been profitable the last two years.
“In fact, farmers lost money,” he says. “Another almost 40% of farmers made money, but the majority of money they made came from off farm income. In record years, nearly 90% of our producers didn’t make any money or make the majority of money they need to represent their families.”
In testimony during a Senate Agriculture Committee hearing on Thursday, Vilsack said the next farm bill should include revenue opportunities for more small and mid-size farmers.