80% of borrowers expected to be profitable in 2021 according to Ag Lender Survey

According to the Fall 2021 Agricultural Lender Survey report produced jointly by the American Bankers Association and the Federal Agricultural Mortgage Corporation, better known as Farmer Mac, agricultural lenders expect 80% of their borrowers to be profitable in 2021, with 70% profitable through 2022.

The majority of ag lenders (69.7%) said overall farm profitability grew in the previous year for the first time since ABA and Farmer Mac began the joint poll in 2016. This was largely owing to government assistance, which accounted for 38% of borrowers’ net income, according to lenders.

To read the full survey, click here.