Net Farm Income Would Have Been At 2009 Levels Without Government Payments
By Betsy Jibben
Farm Journal
Producers who have faced price declines and additional marketing costs due to COVID-19 are continuing to receive financial support through the Coronavirus Food Assistance Program (CFAP).
USDA has provided more than $4 billion worth of aid from CFAP. The Farm Service Agency says as of June 22, CFAP payments have gone out to more than 252,000 producers. The average payment is expected to total $13,000.
Total government payments are at the highest level ever this year, says Pat Westhoff, FAPRI director at the University of Missouri. “It’s indeed a huge portfolio of people’s bottom line,” he adds