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Tight farm economy means more adjustments for farmers

Ag lenders are recommending further adjustments as farmers prepare for another year of tight margins.

Kevin Yager is with Citizens Bank in south-central Minnesota.

“Times were good back in 2011 and 2012 with great commodity prices, and now we have to discipline ourselves and maybe cut back on some expenses and look at doing a better job of marketing.”

Yager has been in ag lending forty years and says he’s confident the farm economy will bounce back.

“We lenders will work with our clients, and there will be some rescheduling and maybe cutbacks in certain expense areas.  We’ll get through it.”

He tells Brownfield the current farm crisis is less severe than in the 1980’s because farmers have more working capital and interest rates are lower.

Brownfield interviewed Yager during the KNUJ Farm City Day breakfast at the Brown County Fairgrounds in New Ulm, Minnesota.