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Armstrong on 2017 farm economy

 

An official with a Great Lakes Farm Credit System says several tools have helped farmers manage another year farming in a tight farm economy.

“It’s not going to be a stellar year again for most of our cash crop producers, dairy producers continue to see some negative margins, but with all that said I think that we dodged any real severe crop disasters.”

GreenStone Farm Credit Services CEO Dave Armstrong says better risk management tools like crop insurance and forward contracting as well as conservative spending provides a buffer during times of low margins.  “I think most of our customers here at GreenStone can be thankful that they prudently managed the income in better years so that they were prepared to go through this kind of a longer-term downturn.”

GreenStone Farm Credit Services manages about $8 Billion in assets for farmers throughout Michigan and Wisconsin.

Audio provided by Ag Leaders of Michigan