Wisconsin leads nation in family farm bankruptcies

State News
Family Farm Decline

MILWAUKEE (AP) — Wisconsin continues to top the nation in family farm bankruptcies.

The American Farm Bureau Federation says that July 2018 through June 2019, Wisconsin farmers filed 45 Chapter 12 bankruptcies. Data show the total was five fewer than the previous 12-month period but still No. 1 in the nation.

In Minnesota, bankruptcy filings increased by 11, to 31.

North Dakota had nine filings, up one from the previous period. South Dakota increased by 12, to 13.

The Journal Sentinel reports that with depressed milk prices besetting Wisconsin’s thousands of dairy operations, the state has led the country in farm bankruptcies in recent years.

Ronald Wirtz, regional outreach director of the Federal Reserve Bank of Minneapolis, also has pointed to Wisconsin’s smaller average farm size as a factor.

From July 2018 through June 2019, Wisconsin farmers filed 45 bankruptcies under Chapter 12, a section of the U.S. bankruptcy code that provides financially troubled family farmers with a streamlined path to repay all or part of their debts.

The Wisconsin total was five fewer than the previous 12-month period, according to the Farm Bureau, which used U.S. Courts data to compile the report.

Kansas, meanwhile, saw Chapter 12 filings increase by 13, to 39. In Minnesota, filings increased by 11, to 31.

With depressed milk prices besetting Wisconsin’s thousands of dairy operations, the state has led the country in farm bankruptcies in recent years. Ronald Wirtz, regional outreach director of the Federal Reserve Bank of Minneapolis, also has pointed to Wisconsin’s smaller average farm size as a factor.

Wisconsin also has lots of farms — the 11th highest total in the nation, data from the 2017 U.S. Census of Agriculture shows. Even accounting for the relatively large number of farms here, however, Wisconsin’s farm bankruptcy rate is among the highest in the country.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Recent Videos

Minot Soccer

Thumbnail for the video titled "Minot Soccer"

UMary vs Minot State

Thumbnail for the video titled "UMary vs Minot State"

Operation kidsafe

Thumbnail for the video titled "Operation kidsafe"

Subtember

Thumbnail for the video titled "Subtember"

Football Sept. 20

Thumbnail for the video titled "Football Sept. 20"

Police Suicide

Thumbnail for the video titled "Police Suicide"

Law Enforcement Suicide Rates

Thumbnail for the video titled "Law Enforcement Suicide Rates"

House of Fade

Thumbnail for the video titled "House of Fade"

Friday, September 20th, 2019 - KX Storm Team Evening Forecast - Dave Holder

Thumbnail for the video titled "Friday, September 20th, 2019 - KX Storm Team Evening Forecast - Dave Holder"

The Trump Shop

Thumbnail for the video titled "The Trump Shop"

Oil Royalty

Thumbnail for the video titled "Oil Royalty"

Waterfowl

Thumbnail for the video titled "Waterfowl"

Food for Thought

Thumbnail for the video titled "Food for Thought"

Christmas Book

Thumbnail for the video titled "Christmas Book"

Morton Amaranth

Thumbnail for the video titled "Morton Amaranth"

Semi flip

Thumbnail for the video titled "Semi flip"

Robert's One Minute Forecast 9-20-19

Thumbnail for the video titled "Robert's One Minute Forecast 9-20-19"

Furry Friend

Thumbnail for the video titled "Furry Friend"

High School Volleyball Sept. 19

Thumbnail for the video titled "High School Volleyball Sept. 19"
More Video

KX News Trending Stories

Don't Miss