Top Economist Says Overall Farm Health is High and Bankruptcies Declining

A top ag economist says farm bankruptcy and loan delinquency rates have dropped in the last two years. Jackson Takach, Chief Economist with Farmer Mac, recently stated, “A lot of that has to do with some of the excess cash that came from the government support payments, but then followed up with strong commodity prices this year”.

Takach said improvements have been made in nearly every part of the country. “All across the Midwest, the heartland, the Northern Plains, the prairie gateway – delinquency rates and bankruptcies have declined dramatically,” he says.

These comments were made at the recent Ag Outlook Forum in Kansas City.

EDITOR’S TAKE:

One more report of just how healthy and strong agriculture in the U.S. is today.  Experts continue to pile on the good news that farmers have cash, land values are increasing, they are borrowing less money, paying down debt and overall, thriving!  Conversely, the overall economy is showing higher prices and inflation, unfilled jobs, huge government spending and tax increases in the offing and people beginning to pull back their spending after the pent up COVID spending spree.  So, who should your target customer be in the next three, six or twelve months?  FARMERS/RANCHERS, that’s our call.  We urge you to look beyond the immediate and take a hard look into that crystal ball.  Let’s face it, there will still be a lot of trucks to sell in the next year or so, despite all the claims of supply chain problems.