the republic logo

Federal Reserve says farm income continues decline in Midwest and Western states, so loan demand is growing

bug
Share/Save/Bookmark

OMAHA, Nebraska — The Federal Reserve says farm income continued to decline during the fourth quarter in Midwestern and Western states, so farmers are borrowing more.

But the Federal Reserve Bank of Kansas City, Missouri, said Thursday that bankers report few problems with farmers failing to make loan payments.

Farm income is down because prices have declined for cattle, soybeans, wheat and corn.

The value of farmland continues to decline. The value of non-irrigated land declined 4 percent in the fourth quarter, and irrigated land values slipped 2 percent from the previous year.

The value of ranchland was flat in the quarter after declining an average of 8 percent in the first nine months of 2015.

The 10th Federal Reserve District covers Kansas, Nebraska, Oklahoma, Wyoming, Colorado, northern New Mexico and western Missouri.

Think your friends should see this? Share it with them!

Story copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2016 The Republic, a publication of AIM Media Indiana unless otherwise noted.
All rights reserved. Privacy policy.