Farm income continues slide
The Federal Reserve Bank of St. Louis says farm income continues to slide. A survey of 35 ag banks in the Eighth Federal Reserve District indicates the second quarter of 2017 is the 14th straight quarter with declining farm income.
Based on the bank’s methodology, the farm income measurement index for the second quarter was 50. Anything below 100 is lower income.
The price of quality farmland declined by 1 percent in the second quarter and cash rent was down nearly 2 percent. Most lenders look for that trend to continue.
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