Farm Credit System Reports 2024 Second Quarter and Six-Month Net Income

August 2, 2024

NEW YORK - The Farm Credit System today reported that combined net income increased 8.1% to $1.9 billion and 11.9% to $3.9 billion for the three and six months ended June 30, 2024, as compared with net income of $1.8 billion and $3.5 billion for the same periods of the prior year.

“The System continued to support the financing needs of new and existing borrowers in rural America and agriculture," remarked Tracey McCabe, President and CEO of the Federal Farm Credit Banks Funding Corporation.  “Overall credit quality remains favorable despite some deterioration resulting from lower commodity prices and continued elevated crop production costs.”