Despite challenges from COVID-19 and bad weather, higher commodity prices and government support have finally turned the tide around on year-over-year increases in Chapter 12 bankruptcies. The American Farm Bureau looked at data from the U.S. Courts from June 2020 through June 2021 and found there were 438 Chapter 12 bankruptcy filings, down 24 percent. The number of Chapter 12 …
America’s Largest Milk Producer Files for Bankruptcy
(NAFB) — Dean Foods, a 94-year-old milk producer, is filing for bankruptcy. The largest milk producer in the country is struggling as Americans are no longer drinking as much milk from cows. This year has been especially difficult as company sales dropped seven percent in the first half of this year, with profits falling 14 percent. A CNN Dot Com …
Farm Bankruptcies up 24 Percent Since Trade War Start
(NAFB) — Farm bankruptcies are at the highest level seen since 2011. Data compiled by the American Farm Bureau Federation shows farm bankruptcies surged 24 percent since the trade war with China began. For the 12-month period ending September 2019, Chapter 12 farm bankruptcies totaled 580 filings, the highest level since 676 filings in 2011. AFBF Chief Economist John Newton …
CoBank: Expect more Farm Bankruptcies in 2018
A recent report by CoBank expects the farm economy to tighten again in 2018, and experts say that will lead to more farmers filing Chapter 12 bankruptcy. DTN-The Progressive Farmer reports that wheat and dairy producers are among the hardest hit, with an increase in Chapter 12 bankruptcy filings in Kansas and Wisconsin, reaching the highest level since 2012 last …
Farm Bankruptcy Relief Bill Sent to Trump
Legislation that would make it easier for family farmers to reorganize debts when facing bankruptcy received final approval this week, sending the measure to the president’s desk for signature. The bill was included as part of the supplemental appropriations package approved Tuesday in the Senate by a vote of 82-17. The measure would rectify a 2012 Supreme Court ruling on …