Interest rates on agricultural loans in major agricultural Federal Reserve districts jumped in the fourth quarter of 2022, in most cases to highs last seen 15 years ago.

As national economic leaders approach their second year of battling inflation, it’s critical for ag business owners to know where the shelling is hitting hardest.

Update highlights

• January FMMO Class III-IV prices lower
• Fed raises interest rate
• GDT index rises
• Ag producer sentiment starts year stronger
• Coming up

October 2022 “mailbox” prices averaged about $1.04 per cwt less than announced average “all-milk” price for the same month.

Digest highlights

• USTR to press for Canadian USMCA dairy compliance
• Canadian dairy farmers to receive fourth DDPP payment
• Fed raises interest rates
• GDT index falls
• 2022 Census of Agriculture response deadline is Feb. 6, 2023
• Other news, briefly

Fuel costs, repairs, labour and interest rates are all factors to consider when investing in machinery. With rising costs, be sure to look at all of your options ahead of time.