WASHINGTON, D.C. (Reuters) — The United States is monitoring “ongoing weaknesses in the farm economy,” agriculture secretary Ann Veneman says, but it is too early to prepare a farm rescue package.
“We will work with Congress to assess further needs for farm assistance and will take other appropriate measures, such as pursuing an aggressive trade policy and improving the effectiveness of our farm program, to move the sector toward greater reliance on the market-based economy,” Veneman told the House of Representatives budget committee.
The White House will not release a detailed budget until April, so Veneman gave the committee an overview of agriculture department priorities.
Farm groups are calling for $9 billion (US) to offset low grain prices, now in their fourth year of decline.
“With respect to … the farm safety net, I recognize that there are ongoing weaknesses in the farm economy,” Veneman said.
“We are closely monitoring the situation, but we need to wait and see how crop and market conditions develop over the coming months.”
