Ag Income Drops As Loans Requests Rise

The nation’s net farm income is the lowest since 2002, and with another year of low commodity prices, demand for agriculture loans is surging as farmers struggle to make ends meet.

A Kansas banker says today’s grain prices will bring in enough to pay for basic operating costs, but it’s not enough for farmers to make payments on equipment loans or even pay themselves.

A recent U.S. Agriculture Department’s Economic Research Service report showed U.S. farm debt is forecast to increase 6.3 percent in 2015. And net income has plummeted by a staggering 55 percent since 2013 to $55.9 billion this year.

The USDA’s Farm Service Agency saw demand for loans across the nation soar over the past two years from nearly $4 billion in 2013 to more than $5.6 billion in 2015.

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Now in his third year as News Director at KD-Country 94 and Z-96.3 The Lake, Chad is a jack of not all, but many trades. He spent previous years of his working life in hotel management, event planning, security, the aviation industry, staff writing for a newspaper, and as a small business owner. He began doing play-by-play of high school sports for KDNS and KZDY in 2009 and came to work full time for the stations in July of 2015. He is the father of an eight year old daughter who enjoys spending his free time with her, his very significant other and her children. His favorite activities include attending live music and sporting events as well as being a singer/songwriter. A natural conversationalist, he also enjoys a good discussion/debate on a myriad of topics from current events and politics to sports and philosophy. He resides in Beloit with his daughter and continues to write sports and meeting stories for the local newspaper.