The Federal Reserve is keeping interest rates at a target range of 5.25% to 5.5% for the second month in a row and ag economists at the University of Missouri say the increased interest is starting to show up on farm balance sheets.
Ryan Milhollin tells Brownfield…
“We factor in a lending rate of 9% into our budgets for next year. Time will tell what the interest rates farmers will have for operating and ownership loans going forward.”
Joe Horner says producers with variable interest rate loans will be more sensitive to any changes.