As inflation continues to grow in nearly all sectors of the U.S. economy, farmers continue to deal with the realities of record-high input costs. To better withstand continued inflationary pressures, producers are recommended to review their farm’s loan rates and debt load, knowing that risk is currently amplified. Even with higher commodity prices, lines of credit can be tight with increased cost of operating. Additionally, taking advantage of long-term fixed rates could be advantageous.
Inflation analysis by the U.S. Bureau of Labor Statistics shows that inflation isn’t always linear, making it difficult to predict what the rest of 2022 could bring. Some analysts predict that interest rates, higher than the lows seen in 2021, could continue to climb 2% to 3% by the end of this year.
Read more on inflation and producer recommendations here.
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