farm income

tractor on farmland
(tpsdav/pixabay)

The Federal Reserve says farmers are borrowing more to cover their operating expenses because farm income continued to decline in during the second quarter in Midwestern and Western states.

wobble-san/Flickr

After jumping up in value over the past few years, farmland in many of the Plains states has slowed down in its appreciation.

A bumper crop, cheap prices for grain, and the lowest predicted farm income in five years have all taken a swipe at the value of farmland. Overall, states in the region, including Nebraska, Kansas, Missouri and Colorado, have farmland value hovering about 1 to 2 percent above its worth this time last year.