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FARM BANKRUPTCIES DOWN 8% FROM LAST YEAR, REGIONAL DIFFERENCES
Nov. 19, 2018
Agri-Pulse reports:
Fewer farms are declaring bankruptcy despite the slump in farm income. According to statistics compiled by the American Farm Bureau Federation, there were 468 Chapter 12 bankruptcy filings during fiscal 2018, which ended Sept. 30. That's a decrease of about 8 percent from the 508 filings in FY17.
Still, the 468 bankruptcy filings in FY18 was 25 percent higher than FY2014.
There are also sharp differences regionally. Bankruptcy filings were down sharply in the South and West Coast in FY18 but up in the Midwest, Plains and some Rocky Mountain states.
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