Functional Roundtable - Agriculture/Aquaculture
Information
Click the "Functional Roundtable Room/Link" above to access the room
Ken Yager from Newpoint Advisors Corp will facilitate roundtable discussion. Topics we will attempt to cover today:
1. Farm Profit – only 57% of farmers were profitable in 2019, and 82% reported declining profits. The stat is trending to 51% for 2020. What is happening now with COVID?
2. Going into 2020 - dairy, grains, and cattle were the sectors that concerned lenders the most, while lenders reported less concern for the swine, poultry, and vegetable sectors. How is 2020 doing?
3. Last year, roughly one-third of lenders noted an increase in ag technology investment in their areas in the last 12 months (32.0%), and a similar percentage expect the investment in ag technology to continue to increase in the coming year (33.4%).
4. Loan request in 2019 was flat for Ag. How did 2020 do?
5. Currently, nearly 60% of lenders said they expect delinquencies to increase for agricultural production loans over the next year. Nearly three in five lenders reported that demand for agricultural production loans was flat over the last six months.
6. Despite a negative outlook on average, lenders approved approximately 72% of agricultural loan applications received over the last 12 months. Over the next 12 months, lenders said they expect to approve 88% of renewal requests.
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