Northwest Iowa — The harvest is winding down here in northwest Iowa, and now farmers face an agricultural economy which has stabilized, but has yet to rebound.
Economists with the Federal Reserve Bank report farm income is down from a year ago, but the decrease is smaller than in recent years. Nate Kauffman, says farmers continue to operate under stressful conditions.
Kauffman says a survey of bankers in Iowa and six other Midwestern states indicates they’re optimistic long-term, even in the midst of a challenging farm economy.
Livestock producers seem to be faring the best and Kauffman says every indication is that the harvest is strong this year.
Commodity prices haven’t begun to trend upwards, not yet.
While some producers continue to struggle, Kauffman says those with equity in their operations have been faring the best.
