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Farm financials better than expected

An agricultural lender says farmers are finding ways to make it through the down ag economy.

Tyler Martin with Compeer Financial says interest rates are higher than before but also closer to normal. “I’ve only been in the industry about 15 to 20 years, and at the end of the day, interest rates are about right where I was when I entered so we’re back up to what I would call an average interest rate, historically.”

Martin says most farmers have found the cost of money has been more manageable than expected.  He says many producers also have better bottom lines than expected. “We were worried that we would see, you know, true negative net incomes from last year’s crop year. We really have not seen that as financials have started coming in.”        

Martin says there was more concern about farm financials two to three months ago when there was more fear of the commodity markets falling, but he says most producers are able to make essential purchases.

AUDIO: Tyler Martin from Compeer Financial discusses interest rates and farm financials with Brownfield’s Larry Lee during the Wisconsin Corn-Soy-Pork Expo.