Skip to content Skip to navigation

Trouble on the farm

District crop and livestock producers are struggling to cope with a sharp drop in commodity prices. For agricultural producers across the Ninth District, this has been the winter of their discontent. After reaping handsome profits earlier in the decade, producers are reeling from lower crop and livestock prices, the result of several years of high commodity production worldwide and a strong U.S. dollar that has limited farm exports.Many producers in the district are operating at a loss because revenues are not covering their costs. “I’m not sure I want to call it depression, but we’re getting into probably what is the third year of a downswing, and certainly there’s concern and anxiety,” said Keith Olander, dean of agricultural studies at Central Lakes College, a community and technical college in north-central Minnesota.

Article Link: 
Article Source: 
Minneapolis Federal Reserve
category: