As the Fed works to keep inflation under control, higher interest rates have been a big part of that strategy. Research shows the Fed’s ninth district, which includes several large farm states, has seen their rates double over the last couple of years.
“Since about early 2021, interest rates for ag producers have increased around 400 basis points, and what that equates to is four percent interest. To put it into perspective, in 2021, during renewal season, a lot of ag producers were getting around four-and-a-half to 4.6 percent interest rates for their production loans. Now, in 2023, they’re being charged about eight-and-a-half percent. That’s a pretty big increase over two years. In 2023, interest expenses for ag production loans in the district totaled about $840 million. Now, to put that in comparison, in 2021, interest expenses for ag production loans were $415 million. And then, in 2022, the total interest expense paid was $490 million. So, that total interest paid in 2023 is more than double from 2021, so that’s a very large increase in two years,” said Tait Berg.
The Fed reached out to local banks in the area and found the last time interest rates were this high was around 2007.
As the strike at a JBS facility in Colorado continues, the National Right to Work Foundation is encouraging some employees to consider returning to work. The group says not all workers on strike may want to participate and urges those who choose to cross the picket line to resign from their union memberships.
March 19, 2026 01:49 PM
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At the Port of Brownsville, shrimpers are facing rising operating costs and increased competition, but many shrimp producers and local lawmakers remain optimistic about the industry’s future.
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Higher prices are bringing relief to markets, but rising input costs are putting pressure on the producers.
March 19, 2026 12:59 PM
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Bryan Combs with USDA’s National Agricultural Statistics Service breaks down new farmland data from the TOTAL survey, highlights key findings, and potential impacts for the ag sector. ASFMRA’s David Klein also shares how those trends are reflected in the current farmland market, especially in the Midwest.
March 18, 2026 04:55 PM
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Geopolitical tensions in the Strait of Hormuz disrupt fertilizer shipments, raising costs and creating uncertainty for U.S. farmers ahead of planting season.
March 18, 2026 03:21 PM
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This year at CattleCon 2026, RFD Network’s Kirbe Schnoor caught up with Donna Emick from Pneu-Dart to get her perspective on why education, safety, and accountability matter in the field.
March 18, 2026 01:22 PM
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