The financial health of the U.S. farm sector has been closely watched as world markets fluctuate from regional economic activity and production impacts caused by climate variability. According to USDA’s Economic Research Service, farm sector income has declined while farm debt continues to rise since 2012. Additionally, farm real estate appreciation has slowed and cost of borrowing has slightly increased. The result is a great deal of farm financial stress across the agricultural sector. Financial stress from the current market environment including COVID-19 impacts, has created an unprecedented levels of uncertainty across agriculture businesses and their families. There exists a number of decision aids to assist farmers with evaluating their financial condition. However, there is a need for expanded discussion of the resources available to assist farmers with identifying issues and managing mental health as a result of financial stress. This poster seeks to highlight mental health resources to aid farmers while they navigate this volatile and risky economic environment.
|Conference||2020 Extension Risk Management Education National Conference|