Farms.com Home   Ag Industry News

New study highlights Farm Financial support needs

New study highlights Farm Financial support needs
Dec 31, 2024
By Jean-Paul McDonald
Assistant Editor, North American Content, Farms.com

Survey reveals key insights on Farm Conservation Practices

Researchers at the University of Wisconsin–Madison recently published two research briefs shedding light on Midwestern farmers’ perspectives regarding farm financial programs and conservation practices.

The study, which surveys 527 farmers across eight Midwestern states, aims to inform policy decisions by summarizing these views on programs supporting crop and livestock insurance, loans, and conservation efforts.

“Billions of dollars from the U.S. Farm Bill support farming in the form of crop and livestock insurance, loans and conservation cost-share programs. We wanted to know how farmers view these programs, and which farmers perceive these programs as most helpful and satisfactory,” says Adena Rissman, professor in the Department of Forest and Wildlife Ecology, who led the development of the two research briefs. “The goal is to provide information that can help guide the development and improvement of our nation’s policies in these areas.”

The survey, developed in 2023, was sent to 3,215 farm owners in Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri, Ohio, and Wisconsin.

With a 16% response rate, the study provides insight into the varied support for different farming operations.

Yu Lu, a graduate student who assisted in the survey design and analysis, noted, "Different farmers perceive different levels of support...while insurance, loans, and cost-share programs are widely viewed as helpful for row crop operations, farmers with forage and livestock operations see fewer benefits."

"The conservation survey results show that farmers are clearly prioritizing soil and water conservation," Rissman remarked. However, there was less adoption of pollinator and tree planting practices, indicating areas where additional support could be beneficial.

Key findings from the financial program research include:

  • 79% of row crop farmers found crop insurance helpful, compared to just 30% of grass-based livestock farmers.
  • 62% of farmers supported income caps for crop insurance, and 53% favored reducing paperwork burdens.
  • 65% of farmers called for lower interest rates on loans.

In terms of conservation:

  • 85% of farmers practiced conservation tillage.
  • 66% expressed concerns over declining pollinators.
  • 92% were highly concerned with farm profitability.

This research was funded by the National Science Foundation. You can find more details in the full reports at https://rissman.russell.wisc.edu/2024-farmer-survey-farm-financial-programs/ and https://rissman.russell.wisc.edu/midwest-farmer-perspectives-on-conservation/.

Photo Credit: istock-ligora


Trending Video

Wheat Yields in USA and China Threatened by Heat Waves Breaking Enzymes

Video: Wheat Yields in USA and China Threatened by Heat Waves Breaking Enzymes

A new peer reviewed study looks at the generally unrecognized risk of heat waves surpassing the threshold for enzyme damage in wheat.

Most studies that look at crop failure in the main food growing regions (breadbaskets of the planet) look at temperatures and droughts in the historical records to assess present day risk. Since the climate system has changed, these historical based risk analysis studies underestimate the present-day risks.

What this new research study does is generate an ensemble of plausible scenarios for the present climate in terms of temperatures and precipitation, and looks at how many of these plausible scenarios exceed the enzyme-breaking temperature of 32.8 C for wheat, and exceed the high stress yield reducing temperature of 27.8 C for wheat. Also, the study considers the possibility of a compounded failure with heat waves in both regions simultaneously, this greatly reducing global wheat supply and causing severe shortages.

Results show that the likelihood (risk) of wheat crop failure with a one-in-hundred likelihood in 1981 has in today’s climate become increased by 16x in the USA winter wheat crop (to one-in-six) and by 6x in northeast China (to one-in-sixteen).

The risks determined in this new paper are much greater than that obtained in previous work that determines risk by analyzing historical climate patterns.

Clearly, since the climate system is rapidly changing, we cannot assume stationarity and calculate risk probabilities like we did traditionally before.

We are essentially on a new planet, with a new climate regime, and have to understand that everything is different now.