An ag lender says farmers are continuing to feel financial stress and he expects more will quit farming.
Bob LeCocq with Compeer Financial tells Brownfield more farmers, especially dairy farmers, have been dealing with more financial stress in the last 24 months. “A lot of them have adjusted well, but for those that have not been able to get their cost of production under, let’s say, $18.50 a hundredweight, some of them are choosing to go out of business or maybe they don’t have that luxury anymore, either.”
LeCocq says he does expects there will be more producers that have to get out of the business.
