The head economist at American Farm Bureau says he suspects the rate of Chapter 12 farm bankruptcies during the first half of the year has slowed because of the logistical difficulties to file during the pandemic.
“When you look overall across all bankruptcy chapters, bankruptcies were down 40 percent this last quarter, so I think there’s obviously some logistical issues that contributed to the slow pace.”
John Newton tells Brownfield family farm bankruptcies are down 10 filings compared to the first six months of 2019 but are up eight percent over the past 12 months.
