november

November Ag Economy Barometer Released

Dan Economy, Industry News Release

(NAFB) — The Purdue/CME Group Ag Economy Barometer rose in November for the second month in a row, climbing to 153, 17 points higher than in October when the index stood at 136. This month’s rise in the ag economy sentiment index left the barometer tied with July for the highest reading of 2019. Once again, the rise was driven …

farmers

Farmers Turning to Riskier Loans to Stay in Business

Dan Economy, Industry News Release

(NAFB) — Weather challenges, trade tensions, and long-term financial struggles continue to make life difficult in the U.S. agricultural sector. The Wall Street Journal says those headwinds are forcing an increasing number of farmers and ranchers to take on high-interest loans from lenders outside of the ag sector, just to stay in business. The more traditional farm banks are offering …

ag lender survey

Ag Lender Survey Shows Lower Profitability and Higher Concerns

Dan Economy, Industry News Release

(NAFB) — The American Bankers Association teamed up with Farmer Mac for their Fall 2019 Ag Lender Survey. The biggest takeaway from the report is that the agricultural economy and farm income remain under stress, with little if any signs of improvement ahead in 2020. Over 82 percent of lenders in the survey said farm profits were being squeezed this …

trade aid

Perdue Hoping Trade Aid Payments Unnecessary in 2020

Dan Economy, Industry News Release, Trade

(NAFB) — Ag Secretary Sonny Perdue is hoping that a third round of trade aid payments to farmers will be unnecessary in 2020 because of a new trade deal with China. The Hagstrom Report says Perdue spoke with reporters shortly after returning from a “successful” trade mission to Mexico. Farmers “would rather have trade than aid,” Perdue says. At the …

natural disaster

Barbour County, Alabama, Designated as a Primary Natural Disaster Area

Dan Alabama, Drought, Economy, Industry News Release, Weather

Emergency Support to Producers in Surrounding Counties/Border State Also Available WASHINGTON, D.C. (USDA/FSA-Sept. 20, 2019) — Agriculture Secretary Sonny Perdue designated Barbour County, Alabama, as a primary natural disaster area. Producers who suffered losses due to recent drought may be eligible for U.S. Department of Agriculture (USDA) Farm Service Agency (FSA) emergency loans.  This natural disaster designation allows FSA to …

update

Alabama Counties Eligible for WHIP+

Dan Alabama, Economy

Earlier this week, U.S. Secretary of Agriculture Sonny Perdue announced that agricultural producers affected by natural disasters in 2018 and 2019 can apply for assistance through the Wildfire and Hurricane Indemnity Program Plus (WHIP+). The announcement was made at the National Association of State Departments of Agriculture (NASDA) annual meeting in Albuquerque, New Mexico. Alabama Commissioner of Agriculture and Industries …

update

SBA Working Capital Loans Available in Alabama Following Secretary of Agriculture Disaster Declaration

Dan Alabama, Economy, Industry News Release

ATLANTA (SBA-September 10, 2019) — The U.S. Small Business Administration (SBA) announced that Economic Injury Disaster Loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations located in Geneva County, Alabama as a result of drought beginning June 25, 2019. “This county is eligible because it is contiguous to one or more …