OMAHA — The Federal Reserve says farm income continued to dip in the fourth quarter for midwest and western states.
This means farmers are borrowing more. Declined prices in cattle, soybeans, wheat and corn is believed to be a reason for the low income.
Still, the Federal Reserve Bank in Kansas City reports few problems with farmers failing to make loan payments.
The value of farmland continues to decline in the region. Non-irrigated fell 4%, while irrigated dipped 2%. The district covers Nebraska and six other states.
