Ag Economy Stable
(Boise) The Senate and House Agriculture Affairs committees heard testimony this past week from the Idaho Bankers Association on agricultural lending in today's economy.
Magic Valley Bank, Northwest Farm Credit Services and U. S. Bank briefed lawmakers on the states lending environment and all were optimistic for row-crop agriculture.
The Bankers pointed to last year's high prices and the fact that equity grew in Idaho Farm operations. They told the committee that last years prices will not hold up in 2009 because dairy prices are down and farm operations are not buying as much feed and putting money into inputs as last year.
The banks said they're keeping an eye on the cattle and dairy industry but said this downward trend should change by summer.