Ag bankers say farmers are more profitable in 2022

Ag bankers say farmers are more profitable in 2022

The nation’s agricultural lenders say farm profitability is up this year but they expect financial conditions to deteriorate in 2023

Jackson Takich

Farmer Mac chief economist Jackson Takich tells Brownfield with last year’s government programs and the current commodity prices, ag bankers are confirming that more farmers are showing a 2022 profit. “We saw a big uptick in the profitability level of farmers, so we have to question what percentage of your customers are going to be profitable this year, and on average, the response was 82%.”

And, Takich says it’s not just the commodity prices that are giving ag lenders a positive outlook.

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