Technology’s impact on farming and the rural Midwest

Oppedahl, David B.

doi:10.21033/cfl-2019-411

Cited by 1 publication

(1 citation statement)

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“…Data are from US Department of Agriculture, Economic Research Service (2005-2015) with the last year representing the most recent survey results published. While there is no strict definition for an agricultural downturn, Oppedahl (2017) identifies 2013 as the start of the downturn in part because of declines in aggregate net cash farm income. After stagnating aggregate real farm income from 1990 until 2002, there was a period of expansion in farm income until around 2013.…”

Section: Models and Datamentioning

confidence: 99%

Evaluating financial stress and performance of beginning farmers during the agricultural downturn

Katchova

Dinterman

2018

AFR

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This study examines farm financial performance and stress for all farmers versus beginning farmers in the U.S. with emphasis on the agricultural downturn experienced since 2013. Using the USDA's Agricultural Resource Management Survey (ARMS) data, probit models are estimated to study the personal and farm characteristics that affect whether or not the financial ratios fall into critical zones as defined by the Farm Financial Standards Council. The financial ratios involve liquidity, solvency, profitability, efficiency, and repayment capacity. Beginning farmers are at a greater risk of financial stress on average, with higher likelihood of financial stress in liquidity and efficiency. Further, the recent agricultural downturn has negatively affected liquidity, solvency, and profitability for farmers while repayment capacity does not appear to be affected. During the downturn, beginning farmers are better positioned than the general farming population with respect to liquidity and repayment capacity. This paper applies current lending practices to a nationally representative sample of farms over a time of changing economic conditions for the agricultural sector.

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Section: Models and Datamentioning

confidence: 99%