American Farm Bureau on rate of farm bankruptcy filings amid COVID
Economic struggles have put pressure on farm bankruptcies, but the rate of new filings has slowed. Speculation is now looming as producers wait for additional relief to stay afloat during the pandemic.
“The big takeaway is while farm bankruptcies did slow in the second quarter, I don’t think that’s a trend; we continue to see a lot of pressure out in agriculture,” AFBF Chief Economist John Newton said. “Trade is still facing some head winds; for the first six months of this year, trade was down 4 percent, so we definitely need more economic stimulus to help farmers and ranchers.”
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