(Washington D.C.) Farm incomes decreased broadly across the Ninth District and likewise, across all of America, that according to lenders responding to the fourth quarter ag credit survey by the Federal Reserve Bank of Minneapolis. Joe Mahon is a regional outreach director with the Federal Reserve Bank for Minneapolis’ Ninth District.
Audio PlayerLikewise, Mahon said capital expenditures also dropped, with 69% of respondents reporting decreased investment in equipment and buildings from a year ago.
Audio PlayerStill, with cash flows weakening, demand for loans increased, while the rate of loan repayment dropped, and loan renewal and extension activity increased.
Audio PlayerThe district average cash rent for non-irrigated land decreased by almost 2% from a year ago, while irrigated land rents fell nearly 4%.
