News
St. Louis Fed ag survey – farm income down
Farm income went down in the second quarter of this year in the St. Louis Federal Reserve District, amid flooding in parts of the region, The bank’s latest Ag Finance Survey showed the highest proportion of bankers reporting lower income since the first quarter of 2016.
The survey was done in the last half of June from bankers in
the district which includes Arkansas, Illinois, Indiana, Missouri and
Tennessee.
Farm income continued to go down for the 22nd
consecutive quarter and bankers site flooding and depressed commodity prices as
some of the possible factors in the second quarter of this year.
Quality farmland values rose more than 2-and-a-half percent
in the quarter while cash rents went down by almost three-percent from a year
ago. Pastureland values went down by more than one-percent from the same time
last year.
