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Working Paper
The financial health of agricultural lenders
Journal Article
Farm balance sheets: the hidden risk of non-real estate debt
Journal Article
The importance of off-farm income to servicing farm debt
U.S. farm income is on the rise. Yet, farm income alone is often insufficient for many farmers to service their debt. In fact, for many farm operations off-farm wages have become their main source of income. In 2008, 90 percent of all income for farm households came from off-farm activities. ; This boost in income has become vital to farm households however, it comes with significant risk. Farm operations are now exposed to economic stresses that arise outside the farm gate. In particular, rising unemployment in the local community can elevate a farmer?s risk to income loss. If farmers lose ...
Journal Article
What are the risks in today’s farmland market?
Journal Article
Can the Ag Credit Survey predict national credit conditions?
With the farm boom ending in 2009, many farmers have become less able to repay short-term loans. As farm profit margins erode and farm loan delinquencies rise, some in the agricultural industry worry that lending standards will tighten?as they did in the farm debt crisis of the 1980s. ; One barometer of future agricultural credit conditions is agricultural bankers. Experience and access to information give these bankers a unique perspective on agricultural credit conditions. In fact, several Federal Reserve banks survey agricultural bankers in their district to tap this source of information. ...
Journal Article
Monitoring credit conditions in rural America
Journal Article
The slow road back for the U.S. livestock industry
Journal Article
Debt, income and farm financial stress
Farmers have significantly increased their debt levels in recent years. Since 2004, real farm debt has risen nearly 5 percent annually, the fastest increase since the prelude to the 1980s farm debt crisis. Today?s rising debt raises questions about whether U.S. farm operations will face financial stress in the future.
Journal Article
The new ACRE program: costs and effects
In 2010, many farmers will again choose between farm safety net programs offered by the U.S. government. They can remain in the more-familiar 2002 farm program, which protects against price declines and provides traditional direct payments. Or, they can enroll in the new Average Crop Revenue Election (ACRE) program, which protects against revenue shortfalls caused by falling prices or low yields. But ACRE requires farmers to give up a significant portion of their traditional 2002 farm program payments. Changing farm programs, especially ACRE, presents different costs and effects for not only ...