Agriculture and the Economy

The Kansas City Fed is a leader on topics related to the agricultural economy within the Federal Reserve System. Our work provides insights on agricultural and rural economies for our seven-state region of the Tenth Federal Reserve District and nationally.

Latest Updates

Ag Finance Update

Farmland Growth Moderates as Credit Conditions Tighten

Growth in farm real estate values slowed alongside slightly tighter credit conditions and steady interest rates.

Ag Bulletin

First Quarter Ag Bulletin

The U.S. farm economy remained steady despite a slight tightening in agricultural credit conditions and subdued commodity prices.

Ag Credit Survey

Thinner Crop Profits and Tighter Credit Conditions

Farm incomes retracted at a sharp pace, farm loan repayment rates declined and loan demand rose in the first quarter.

Ag Finance Update

Operating Loans Boost Lending Activity

Non-real estate farm lending activity at commercial banks picked up slightly in the first quarter of 2024.

Economic Bulletin

Not Bullish: U.S. Cattle Herds Hung Up on Higher Interest Expenses

Cattle inventories declined to historically low levels at the start of 2024. Cattle producers may face challenges maintaining...

Ag Finance Update

Non-Real Estate Lending Lifted Farm Debt in 2023

Farm debt at commercial banks grew at a steady pace through the end of 2023 while loan delinquencies remained historically low.

Economic Bulletin

Interest Expenses on Farmland Debt Could Challenge Farm Profitability

Crop producers with high levels of land debt may struggle to be profitable under higher interest expenses.

Ag Finance Update

Smaller Operating Loans Slow Lending Activity

Farm lending activity at commercial banks slowed further in the third quarter alongside a drop in operating loan volumes.

Economic Bulletin

Labor Constraints and Strong Demand Are Driving Robust Food Services Inflation

Although headline inflation has slowed in recent months, inflation for core services has remained elevated since the first...