Ag Industry Trends & Outlooks

As 2025 begins, the 119th Congress faces a busy start. Senate committees will hold nomination hearings for 24 cabinet-level positions, while Treasury Secretary Janet Yellen warns of hitting the debt limit. The American Relief Act, 2025, extends government funding through March 14, 2025, and includes a one-year extension of the 2018 Farm Bill. Brooke Rollins is nominated as Secretary of Agriculture, amidst hopes of passing the Farm Bill early in the year to address the decline in farm income.

USDA’s Agricultural Marketing Service (AMS) released its final decision for changes to the Federal Milk Marketing Orders (FMMOs) on November 12. Now producers, and their coops have to vote to approve (or reject) these changes. 

The Farm Bill has been bogged down since the Fall while Congress has battled over funding the government. Given it’s an election year, Congressional leaders have acknowledged if the Farm Bill isn’t passed by mid-year, it will likely be extended for another year leaving it for the next Congress to complete. Several Farm Credit backed proposals have been introduced this Congress that would allow Farm Credit to lean into meeting the capital needs of rural America. The intent is for these “marker bills” to be included in the Farm Bill. Here is a summary of four of them.

The USDA and its partner vendors have announced the opening of the application period for Section 22007 of the Inflation Reduction Act (IRA), which directs USDA to provide financial assistance to farmers, ranchers, and forest landowners who experienced discrimination in USDA farm lending programs prior to January 2021.