0845 ET - Credit conditions are worsening for farmers in the Great Plains, a survey by the Kansas City Fed finds. In the reserve bank's regional district, 60% of respondents report that farm income is less than a year ago, while 10% say it was greater: the worst result since 2020. Lower crop prices are pressuring incomes despite higher cattle prices. Industry lenders reported a slight increase in problem-loan rates across the region. About 60% of banks say that at least some of their lenders plan to sell assets in the months ahead to free up cash or make loan payments. The KC Fed's district covers Colorado, Kansas, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri. (matt.grossman@wsj.com; @mattgrossman)
(END) Dow Jones Newswires
November 19, 2024 08:45 ET (13:45 GMT)
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