The past few years have been tough on the agriculture industry, but according to a variety of surveys and polls, many in farm country are feeling more positive about the road ahead.
However, Federal Reserve economist Nathan Kauffman says it’s not the next 12 months that have the lion share of his focus.
Kauffman says if the farm economy as a whole does not see some positive changes between now and 2025, stress and pressures will continue to build, requiring a much larger correction. If things don’t turn around in the next five years, Kauffman anticipates there will be a lot of consolidation.
Kauffman says if the farm economy doesn’t turn around, it will continue be mid-sized farms that feel the most pressure.
