An official with the Kansas City Federal Reserve says banks made about 10% fewer non-real estate farm loans in the first quarter. Economist and Vice President Nathan Kauffman tells Brownfield that’s because farmers had more income and stronger balance sheets. “The biggest category where we have seen some of the pullback has been in operating loans, but it’s been relatively broad-based. It’s held up a little bit better for things like farm real estate, and that’s actually been a market that’s been maybe even surprisingly strong relative to where things were a year ago at this time.”
Kauffman says the number of real estate and capital improvement loans is only down slightly from a year ago.
