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St. Louis Fed reports slide in farm income
The Federal Reserve Bank of St. Louis reports a continued slide in farm income across areas of the Midwest and Mid South. In its Ag Finance report, the average value of ranchland, pastureland and quality farmland also declined in the fourth quarter of 2015.
The survey was done in the last two weeks of December of 33 ag banks in the St. Louis district.
A Kentucky lender said even though crop and cattle prices are down “input costs are rising at a slower pace.”
More than 75% of the lenders surveyed say they expect a slightly positive return on farmland for landowners of up to five-percent this year.
More than half the farmland sold was bought by farmers in 2015.
The St. Louis Fed district covers Illinois, Indiana, Missouri, Arkansas, Kentucky, Mississippi, and Tennessee.
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