U.S. Family Farm Bankruptcies are at a 10 Year High

Local News

Family farm bankruptcies are at the highest they’ve been since 2011.

The American Farm Bureau Federation said these Chapter 12 bankruptcies increased by almost 20 percent between 2018 and 2019. Last year alone, there were 595, up nearly 100 from 2018.

Director of Public Policy for the North Dakota Farm Bureau Pete Hanebutt said bankruptcies are always a concern, and while there were some family farm bankruptcies in the state in 2019, he says the number did not rise as it did nationally.

“A lot of that is because of the diversity we’re blessed within North Dakota. When you think about North Dakota commodities, we have two kinds of wheat that we raise generally, we have several edible beans that we raise, we raise flax and canola, we raise sugar beets, we raise potatoes. We’re not just a corn and soybean state,” Hanebutt shared.

Hanebutt said other states suffered because of the many delays it took to pass several trade deals last year.

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Recent Videos

WDA Basketball

Regional Basketball

SYSK Julie Mcelwain

Trap Shooting Grant

Animals Rescued

MUST SEE: 81-year-old "Fitness Gran" takes over TikTok

Luke Simons

Thursday, February 25th, 2021 - KX Storm Team Evening Forecast - Dave Holder

KX Convo: Jordan Pederson

Art & Heart

DOCR Vaccinations

KX Storm Team Full Evening Forecast w/Tom Schrader 2/25

CHI Vaccines

Trip to SD

Good Road 1

Good Road 2

Amber's Thursday Morning #OneMinuteForecast 2/25

Dry & warm with fire weather concerns

NDC FEB 25

More Video

Don't Miss

More Don't Miss

KX News Trending Stories

Latest Stories

More Local News