Farmers fear 2020 will bring more bankruptcies, closures – By Jessie Higgins (UPI) / Feb 5 2020
Evansville, Ind., Feb. 5 (UPI) — American farmers are beginning to fear that, despite the flurry of trade deals that came through at the start of 2020, this year will bring more low commodity prices, farm closures and bankruptcies.
Commodity prices have remained low this year — even after the Jan. 15 signing of a phase one trade deal with China in which that nation promised to purchase $80 billion of American agricultural goods over the next two years.
Market experts and farmers immediately questioned whether China would make good on its promise. Until they know for certain, commodity prices likely will remain low. And that’s bad news farmers.
“All of agriculture has really been struggling for four or five years now, and it all boils down to what farmers are getting paid for their products,” said Darin Von Ruden, a Wisconsin dairy farmer and the president of the Wisconsin Farmers Union.
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