Farm Bankruptcies Surpass Great Recession Levels in Upper Midwest

Analysis by the Federal Reserve of Minneapolis found that 84 farms in the upper Midwest filed for bankruptcy from June 2017 to June 2018.

The number of bankruptcies is double the total from 2014 and surpassed even 2010 levels at the peak of the Great Recession. Current trends suggest the number will continue to rise, according to the report.

The report examined filings from Wisconsin, Minnesota, Montana and The Dakotas. Most of the bankruptcies filed were in Wisconsin with 50, Minnesota followed with 20 and South Dakota had 12. Both Montana and North Dakota each had only one bankruptcy.

 

 

Photo: “Death of the family farm” by Kevin Dooley is licensed under CC BY 2.0

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