Farm economy presents mixed financial signals

When assessing the farm economy, Ty Kreitman says there are different ways to measure its condition, and challenges are constant. Kreitman is an associate economist in the Regional Affairs Department at the Omaha branch of the Federal Reserve Bank of Kansas City. In this role, he contributes to the Center for Agriculture and the Economy, a Kansas City Fed initiative focused on strengthening the Federal Reserve’s ties to agriculture and rural communities through research, data and industry engagement. In October, the Kansas City Fed released its quarterly farm lending report. Farm lending activity at commercial banks was muted in the third quarter alongside a decline in average loan sizes. According to the National Survey of Terms of Lending to Farmers, the volume of new non-real estate farm loans declined compared with the previous year for the second consecutive quarter.

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