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Farm finances remain strong despite rise inputs, interest rates

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An ag economist says the financial outlook for the 2024 crop year remains strong for most of the industry despite tightening margins.

Nathan Kauffman is with the Federal Reserve Bank of Kansas City. “Even though we’re seeing some signs of conditions softening, it’s reasonable to think that the strength of the last few years will provide substantial support in the year ahead.”

He says despite a rise in interest rates, increase input costs and lower commodity prices, producers took advantage of record net farm income.

Farm finances remain strong despite rise inputs, interest rates