Earlier this year we discussed the prediction that the second quarter earnings wouldn’t be too exciting for farms across the Midwest. After all the dust has settled, we see that this prediction holds somewhat true. While we may not have seen quite the decrease we expected, we did see these incomes flatten or hold steady in many cases.
Joe Mahon is the regional outreach director of the Minneapolis Fed. He says that holding steady is good when there is a chance of falling.
Mahon says that there are several factors in play when it comes to what we are seeing across farm country.
What is more interesting is that banks aren’t seeing any increased demand for loan requests from farmers.
Despite what many feel is a recession, or at least a slowing of the economy, agriculture is holding its own in rough seas.
