More Farmers File for Bankruptcy Protection

Data released in March 2020 shows that farm bankruptcies in a 12 month period increased 23% compared to the 12 months prior. The Observer reports farmers are seeking bankruptcy protection in an effort to save their family business.

“Each bankruptcy represents a farm in America struggling to survive or going under, which is both heartbreaking and alarming,” said American Farm Bureau President Zippy Duvall. “Even more concerning, the difficulty staying afloat is made worse by the pandemic and related shutdowns as farmers are left with fewer markets for their products and lower prices for the products they do sell.”