At the Cultivate Conference during a panel discussing the economic health of agriculture, AgCountry Sr. Vice President Mark Vetter said despite rising interest rates it’s still possible to take advantage of locking in variable rates when the time is right. “Fixed interest rates change daily. Recession and downturns in the stock market can affect interest rates. Get a relationship with a lender and have a plan in place for when we have the right opportunity.” While crop prices are down, there is still a chance for farms to stay profitable. It’s important to analyze your financials and know your numbers. “Know your cost of production. At $5 if you’re still at 15 to 20 percent return, maybe that isn’t such a bad spot to lay off some risk.”
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