Unfortunately, bankruptcy is often associated with underperformance or carelessness. However, this should not be the case. Filing a Chapter 12 bankruptcy can be a great tool and resource for families engaged in agriculture who find themselves in a difficult situation and face going out of business or losing their farm.

From lower bankruptcy filings and interest rates to slight increases in farmer sentiment and the Global Dairy Trade, news for the first week of August is fairly positive.

Improved working capital and equity positions in 2022 helped reduce the number of U.S. farms filing for Chapter 12 bankruptcy in 2023. There will likely be additional financial stressors in 2024.

NFU delegates called for creation of a farmer-led incentive-based milk production growth plan to match milk supply with profitable market demand.

I’d like to dive a bit deeper into the concept that I mentioned in a previous article and which I frequently teach – infinite banking.