Fed Reports Drop in Farm Loan Demand

The Dallas Fed has reported that demand for agricultural loans decreased for a 12th consecutive quarter. Loan renewals and extensions rose slightly, while the rate of repayment stabilized after declining in the prior two quarters.

The volume of non-real-estate farm loans was slightly lower compared with a year ago, while the volume of farm real estate loans declined more significantly. The volume of operating loans declined modestly, while volumes of all other loans declined sharply in the third quarter.

Source: Dallas Fed