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CoBank report predicts slow growth, challenges in ag economy

A CoBank economist says U.S. agriculture will face more challenges because of slow growth and uncertainty in the markets.
Tanner Ehmke handles CoBank’s rural market and economy research, and he tells Brownfield, “If we can get the end of this trade war, that would be instant relief for a lot of farmers and ranchers out there.”

Ehmke says financial conditions in agriculture have remained highly variable across commodities and regions. 

Ehmke says the number one priority should be removing steel and aluminum tariffs because retaliatory tariffs from Canada and Mexico are badly hurting farmers. “Farmers and ranchers are feeling the brunt of that right now at a time when we can least afford it, especially the dairy farmers.”

Ehmke says economic growth in the U.S. slowed significantly in the fourth quarter to a 2.2 percent annual rate compared to the 3 to 4 percent growth in the previous six months. He says first quarter growth was significantly impacted by the government shutdown and ongoing trade disruptions.

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