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AG SEC'Y PERDUE ON THE AG ECONOMY
Nov. 18, 2019
Agri-Pulse reports:
Perdue, who spent time at the Kansas City Fed on Friday and met with farm lenders, said the farm economy remains fairly sound. But he acknowledged producers are having to dip into working capital and rely on operating loans more heavily. "It makes you feel you're doing worse than you are," he said.
He also played down concerns about farm bankruptcies, noting that the rate remains well below the 1980s. When land is being sold off, it's going to neighbors and other farmers, he said. "These aren't Wall Street bankers coming out here and buying."
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