Source: MINNEAPOLIS FED, 8/16/18


“We are already seeing families leave the industry and expect more consolidation over the next few years,” wrote a Wisconsin banker about the current state of agriculture. “A trade war might not help either.” His comment reflected numerous others expressing concerns about the impact of potential tariffs in a recent Minneapolis Fed survey. Farm incomes fell from April through June, according to results of the second-quarter (July) agricultural credit conditions survey. Spending on capital equipment and farm household purchases also decreased.

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