Ag Industry in Colorado Holding Its Own During Economic Turmoil

Summary

---

Colorado's $6.3 billion agriculture industry should be able to survive the current economic storm -- if it doesn't last too long.

"Farmers are used to weathering, well, the weather," said Russ Thomkey, chief credit officer for Farm Credit of Southern Colorado, a bank whose sole mission is to handle loans for agriculture and rural communities. "They're the one segment of the economy who knows they have to have a nest egg saved in case the crops aren't good that year. I think they're used to cycles, because their business is so cyclic. So if this is short, they should be fine."

See the full content of this document

Extract

---

Ag Industry in Colorado Holding Its Own During Economic Turmoil

Farm Credit is still lending to farmers and ranchers, many of whom depend on short-term operational loans to start the season. The loans are necessary to pay for fuel, seed and feed for livestock. Colorado ranks among the top 1...

See the full content of this document

---