It’s not a secret. Times are tough for farmers with input costs high and grain prices low.
“Yeah, we’re going to have to have some tough conversations once we get to renewal season,” says Jeremy Bender, Agribusiness Lending Manager for Interra Credit Union. “You know, Interra, we’re diversified. We’ve got a lot of dairy farmers and hogs and chickens and eggs, which helps. Most of the protein side of things, prices are pretty good. They’re doing okay, especially with feed prices being lower. But we’re definitely seeing some stress on the grain side.”
Interra serves farmers and agribusinesses in 24 Northern Indiana counties.
Mike Blosser, Interra’s Chief Commercial Officer, tells Hoosier Ag Today that many of their grain farmers are looking at ways they can diversify, largely by adding livestock. And the opportunity is there in Northern Indiana because of the land base and available workforce, but grain markets won’t be suppressed forever.
“So, I think there are still opportunities for grain farmers to really ride this wave, really work closely with the credit union, talk about plans, and become, in a lot of ways, better managers because you have to really understand your margins, your marketing strategy, and really find opportunities within that when the market swings back in your favor, you’re positioned for future success.”
Interra held their annual Agribusiness banquet last week in Wakarusa, with another one to be held soon in Shipshewana. Bender says the message he hopes customers took home is that Interra is rooted in ag and they’ll be there to work alongside them.
“We get to know these people at a very personal level. We know their families, we go to weddings and graduations and things like that. So, it’s a very personal thing to see these people struggle. And so, I think the biggest thing is just letting them know that we’re with them. We’re walking right there alongside them.”
You can learn more about their offerings at interracu.com.
