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What do higher interest rates mean for farmers?

Brian Briggeman, Kansas State University ag economist, digs in on potential impact on everything from land prices to succession plans.

No doubt rising interest rates and the impact of inflation have been in the news, but for farmers those two monetary measures are keys to future income. Making sense of it all can help you plan for the future.

Jennifer M. Latzke, Kansas Farmer, talked with Brian Briggeman, ag economist, Kansas State University about those issues. In their talk, he offered some solid tactics farmers can use to deal with rising costs to preserve as much profit as possible.

Rising interest rates have longer term potential to impact farms. Briggeman shares how those rates aren’t good for land prices in the long term, including impact on succession plans. And while the higher cost of money might hinder land sales he notes he doesn’t see a collapse in farmland prices anytime soon.

Give it a listen.

Related: Farmers need to prepare for rising interest rates

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