In a House Agriculture Subcommittee hearing on trade, Committee Ranking Member Mike Conaway asked farmers to speak to the impact of a third round of Market Facilitation Program payments. Beeville, Texas farmer Matt Huie responded. “If we don’t see an MFP 3.0 or a real market turnaround, I think those payments will be absolutely necessary or you will see a large wave of bankruptcies across the country. Let me be clear, we’re going to see some already. The bloodletting isn’t done, even with a third round of MFP. Those did not allow us to break even.”
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.