Farm lending activity at commercial banks slowed down in the third quarter. According to a quarterly report from the Federal Reserve Bank of Kansas City, the number of non-real estate farm loans was flat, but the average size of the loans dropped nearly 20 percent. While interest rates and input costs are up, farmers are generally in a strong cash position. The volume of non-real estate farm loans dropped ten percent over the past year with the demand for operating loans declining. Loans for feeder cattle increased with the big gains in the cattle market.
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