Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
   
   

Agricultural News


Farm Income Expectations Shrivel Under Drought Conditions

Wed, 15 Aug 2012 10:51:30 CDT

Farm Income Expectations Shrivel Under Drought Conditions
After early spring rains, emerging drought conditions wilted Tenth District farm income expectations during the second quarter, according to the Federal Reserve Bank of Kansas City’s quarterly Survey of Agricultural Credit Conditions.

At the beginning of the quarter, participation in the southern portions of the District led to a rebound in winter wheat production and farm incomes. Yet, by the end of the quarter, intensifying drought conditions were cutting bankers’ expectations for farm income during the third quarter.

Bankers reported that livestock producers were bearing the biggest burden from the drought. Higher feed costs and lower cattle prices from forced herd liquidations were cutting livestock profits. Several survey respondents noted that high crop prices would support crop incomes for producers able to harvest a crop and those that have crop insurance.

Despite the weaker outlook for farm income, loan repayment rates were expected to hold near year-ago levels. Although operating loan demand was sluggish in the second quarter, bankers expected loan demand to strengthen in the third quarter as drought boosted production costs. Bankers indicated ample funds were available for farm loans, and interest rates edged down further.

District farmland values rose less rapidly during the second quarter and were well above year-ago levels. District irrigated and non-irrigated cropland prices remained more than 25 percent above year-ago levels. Looking forward, more than three-quarters of the 241 survey respondents expected farmland values to hold at current levels during the rest of the growing season.

The complete survey is available by clicking here.


   

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • US Corn and Soybean Crops Continue to Fall Further Behind in Development as Result of Late Planting  Mon, 22 Jul 2019 19:10:04 CDT
  • Slaughter Cows 2.00 to 4.00 Higher and Slaughter Bulls 1.00 to 3.00 Higher at OKC West Livestock Auction  Mon, 22 Jul 2019 16:51:57 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Monday, July 22, 2019  Mon, 22 Jul 2019 16:20:31 CDT
  • National Chicken Council Says 91% of U.S. Consumers Have Purchased Chicken in the Last 6 Months  Mon, 22 Jul 2019 16:16:39 CDT
  • Monday Market Wrap-Up with Justin Lewis  Mon, 22 Jul 2019 14:24:21 CDT
  • Monday Afternoon Market Wrap-Up with Carson Horn  Mon, 22 Jul 2019 14:23:10 CDT
  • Eleven New Cases of Vesicular Stomatitis Confirmed in Texas By Texas Animal Health Commission  Mon, 22 Jul 2019 12:36:28 CDT
  • USMEF Appreciative of Administration's Authorization of Additional Ag Trade Promotion Program Funding  Mon, 22 Jul 2019 12:27:04 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Tulsa Farm Show AFR Insurance Stillwater Milling KIS FUTURES, INC. Oklahoma Cattlemen's Association

    Search OklahomaFarmReport.com


       
       
    © 2008-2019 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.