Agricultural Credit Conditions: Booming Farmland Values, The Main Street Economist, The Center for the Study of Rural America, Federal Reserve Bank of Kansas City
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چکیده
Farmland values are booming across much of the nation and farm credit conditions are solid. There are few exceptions to these broad-based trends according to results of surveys of agricultural credit conditions conducted by several Federal Reserve district banks. Farm and ranch land values have been climbing in recent years, but have showed particular strength since mid-2004. Strong farm income, nonfarm demand, low interest rates, and tax advantages are among the forces supporting land values. Farm finances are on solid footing according to survey respondents. Loan repayments are solid and loan renewals have been kept to a minimum. Looking ahead in 2005, lower crop prices and rising energy costs will dampen farm income. In general, producers are in a favorable position to service their debt. CENTER FOR THE STUDY OF RURAL AMERICA Federal Reserve Bank of Kansas City
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