Farm Incomes Dropped In Third Quarter, KC Fed Survey Shows

Photo by Nicole Lunger
Photo by Nicole Lunger

Farm incomes are on the decline.

The Federal Reserve Bank of Kansas City reported today in its quarterly survey that farm income dropped in the third quarter due to lower crop prices. The Survey Of Agricultural Credit Conditions also said that farm income was below year-ago levels.

As a result, demand for farm operating loans increased and cut farm capital spending. The report said loan repayment rates were steady, but loan renewal requests and extensions increased.

Read more from the Kansas City Star


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