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Economist says overall farm health remains highs, bankruptcies declining
An ag economist says farm bankruptcy and loan delinquency rates have dropped in the last two years.
Jackson Takach is the chief economist with Farmer Mac. “A lot of that has to do with some of the excess cash that came from the government support payments, but then followed up with strong commodity prices then this year,” Tackach says.
He says improvements have been made in nearly every part of the country. “All across the Midwest, the heartland, the Northern Plains, the prairie gateway – a lot of healing in delinquency rates,” he says. “The one place there’s not the basin ranch where there’s been drought.”
He says the price imbalance in the cattle industry is the biggest factor there.
He made his comments at the Ag Outlook Form sponsored by the Agribusiness Council of Kansas City and AgriPulse.
