Interest rates in the fourth quarter of 2025 dipped to rates not seen since 2022 – lower than the peaks of 2023 but remained above the 10-year average – a signal lending conditions were more favorable for farmers despite overall credit conditions deteriorating as the year came to a close.

Continuing from the first half of last year’s trend, interest rates in the third quarter of 2025 fell according to lender surveys from Chicago, Dallas, Kansas City and Minneapolis Federal Reserve districts.

Lender surveys from Chicago, Dallas and Kansas City Federal Reserve districts demonstrated another weak quarter as interest rates on agricultural loans declined in the second quarter of 2025.

Lender surveys from Chicago, Dallas, Kansas City and Minneapolis Federal Reserve districts reflected the pressures of a subdued agricultural economy as interest rates on agricultural loans declined for another straight quarter in the first three months of 2025.

Here’s an update on interest rates from the fourth quarter of 2024 as reported by Federal Reserve districts that share data impacting dairy finances.

Here’s an update on interest rates from quarter three of 2024 as reported by Federal Reserve districts that share data impacting dairy finances.

Here’s an update on interest rates from quarter two of 2024 as reported by Federal Reserve districts that share data impacting dairy finances.

Here’s an update on interest rates from quarter four of 2023 and quarter one of 2024 as reported by four Federal Reserve districts that share data impacting dairy finances.

Farm lending activity at commercial banks slowed through the first half of 2023 as interest rates continued to push higher.