KC Fed Reports Thinner Crop Profits and Tighter Credit Conditions
The KC Fed reported that crop farmers are facing tighter margins and tougher credit issues in the first quarter of 2024
The Kansas City Federal Reserve issued their first quarter Ag Credit Survey last month.
It appears that crop farm incomes retracted at a sharp pace compared to the same period in 2023. However, livestock ranchers are not facing the same income pressures.
The share of bankers reporting that farm income was less than a year ago reached 60%, the highest level since early 2020. However, cow/calf producers were supported by strong cattle prices.
Keep reading with a 7-day free trial
Subscribe to Farm CPA Report to keep reading this post and get 7 days of free access to the full post archives.