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

  • Stay Ahead of Nematodes and Participate in BASF’s SCN Action Month  Fri, 15 Oct 2021 21:59:28 EDT
  • Oklahoma Grain Elevator Cash Bids as of 2 p.m. Friday, October 15, 2021  Fri, 15 Oct 2021 21:49:39 EDT
  • Friday, October 15, 2021, Market Wrap-Up with Justin Lewis  Fri, 15 Oct 2021 21:46:09 EDT
  • 2022 Edition Now Available of the NCBA Redbook   Fri, 15 Oct 2021 15:32:28 EDT
  • Congressman Frank Lucas and the Rest of the Oklahoma Delegation Call on Biden to Put American Energy First  Fri, 15 Oct 2021 13:02:04 EDT
  • USDA Designates Eight Oklahoma Counties as Primary Natural Disaster Areas  Fri, 15 Oct 2021 11:31:22 EDT
  • NCBA’s Kent Bacus Hopeful Biden Administration Will Pursue Deals Beneficial to US Beef Producers  Fri, 15 Oct 2021 10:10:35 EDT
  • Feeder Steers and Heifers Steady to Higher, Steer Calves Higher at Woodward Livestock on Thursday  Fri, 15 Oct 2021 05:26:37 EDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma Beef council Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment Tulsa Farm Show Union Mutual Stillwater Milling Oklahoma Cattlemen's Association KIS FUTURES, INC.

       
       

    Search OklahomaFarmReport.com

    © 2008-2021 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.