Farm loan delinquencies are at their highest level in 9 years as commodity prices slump. SDSU Extension Risk Business Management Specialist Matt Diersen says several sectors of agriculture have experienced good financial conditions over the past ten years but the latest trend has hit its worst level in years.
He says the recent trade war hasn’t helped the financial situation and has added to already low commodity prices.
Diersen says the financial drop experienced by farmers and ranchers hasn’t happened overnight. He says producers who are financially stressed need to work on a long range plan.
He says some producers have tried a different marketing plan but may need to consider planting different crops than they have in the past that haven’t penciled out financially.
