A new report indicates fewer U.S. farms are profitable compared to years past.
Only 58 percent of farms will remain profitable in 2024, compared to 78 percent last year, the 2023 Ag Lending Survey Report says.
The report, conducted by the American Bankers Association and the Federal Agricultural Mortgage Corporation (Farmer Mac), included responses from more than 450 ag lenders with assets ranging from under $50 million to more than $1 billion.