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St. Louis Fed District Bankers On Farm Income Decline

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Most ag bankers surveyed in the St. Louis Federal Reserve district report declines in farm income compared to a year ago and expect farm income to go down again in the next quarter.

Both farm income and expenses fell in the third quarter. A Missouri lender says the low price of grain and the falling of cattle prices are going to make it hard on low-leveraged farmers and nearly impossible for young, highly leveraged farmers.

Quality farmland values feel nearly 2% in the third quarter but ranch and pastureland values increased more than 10%.

Seventy percent of the ag bankers expect operating lines of credit will have the largest increase in re-payment problems.

The St. Louis Fed district includes the eastern two-thirds of Missouri, southern Illinois, southern Indiana and the western third of Tennessee.

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