The Kansas City Fed reports the decline in farm income did accelerate from July to September. Despite interest rates on the rise, the Fed says rates on farm loans still remain well below pre-recession levels.
The Kansas City Fed covers the western half of Missouri, the central Plains, Wyoming and Colorado. The Fed says more than half of bankers reported lower farm income, compared to a year ago in that district. Less than 5% reported higher income.
The Kansas City Fed shows farmland values remain stable. Farmers National Company told AgDay-TV, a quality piece of land still brings top dollar, but there is more caution in the land buyer, and it's a question of whether land values have found a bottom or a plateau. Read the full report here.
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