Stud Angus, wagyu, Murray grey, Dairy and beef Cows and Bulls grazing on grass and pasture. The animals are organic and free range, being grown on an agricultural farm in Australia. Adobe Stock photo from MNC.
ANCHOR, IL (KELO.com) — Conditions are tough, but farm families are finding a way to keep their operations going despite low commodity prices and high farm expenses.
Grain prices remain below the break-even point.
Despite that, Jim Eckert of Anchor State Bank in Illinois says farmers are finding a way to avoid problems at the bank.
“We haven’t seen too much in the way of defaults. We are seeing some restructuring by producers who have too much carryover in their operations. I think we’ll see more defaults and restructuring as we go forward.”
Hope is fading for meaningful help from Washington and the Farm Bill is floundering in the Senate.
The Iran war and tariffs are also negatively impacting costs, driving fertilizer and fuel prices higher.
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