Agricultural Income and Finance Situation and Outlook: 2021–23 Edition

Litkowski, Carrie [Editor], Katherine Lim, Jonathan Law, Tia M. McDonald, Anil K. Giri, Dipak Subedi, Monika Ghimire, Clayton Winters-Michaud and Noah Miller

No 410300, Economic Information Bulletin from United States Department of Agriculture, Economic Research Service

Abstract: This report evaluates the effects of higher prices between 2021 and 2023 on farm household income and consumption, analyzes the impacts of rising interest rates on farm financial stress, and reviews the performance of commercial agricultural banks during the 2023 banking crisis. Our analysis suggests that farm households, on average, had income increases that allowed them to maintain their consumption during the high inflation environment. Additionally, among farms with some debt, 3 percent of farm operations were in extreme financial distress in 2023 with a slightly higher share of mid-size farms in extreme financial stress. Following the collapse of three regional banks in 2023, the deposit flow into agricultural banks was minimally impacted with the typical agricultural bank being less susceptible to liquidity concerns than its larger and non-agricultural counterparts.

Keywords: Agricultural Finance; Consumer/Household Economics; Financial Economics; Labor and Human Capital; Land Economics/Use; Production Economics; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 42
Date: 2026-09
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersib:410300

DOI: 10.22004/ag.econ.410300

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