DALLAS - As the U.S.-China trade war drags on, more farmers are expected to take out debt against the land they own - their collateral of last resort - to keep their operations going, according to a survey of lenders.
The survey found that bankers are increasingly worried about farmers facing cash-flow problems: 46% of bankers expect an increase in loans secured by farmland for the 2019/20 growing year, up from 37% for the previous period. The concern comes as the U.S. farm economy deteriorates. Farmland is the key pillar of equity in the U.S. agricultural heartland, which has been suffering from lingering weakness in commodity prices and loss of key export markets due to President Donald Trump’s trade disputes.
About 57% of farm loan customers were profitable in 2019, according to the survey, but more than 82% of farm bankers said their customers’ profits were dwindling – with the biggest economic woes being felt in Midwest and Southern states among dairy, grain and livestock producers.
Not even close! Right now we're working our asses off trying to clear, prep and winterize the land we have for next growing season, while we are also, trying to procure more acreage, to meet next year's demand. FakeNews
trump pumped these people's livelihoods down the toilet