One Dollar
Nebraska was far from the only state to see a rise in farm bankruptcies this past year.
Nationally, Chapter 12 filings increased by 24 percent from 2018 to 2019, according to a Farm Bureau report released in October.
“While filings remain well below the historical highs experienced in the 1980s, the trend is a concern,” explained by John Newton, economist and author of the report, which compared data from September 2017-2018 with that of September 2018-2019.
All U.S. regions, including Puerto Rico, saw higher farm bankruptcy rates in 2019 than in 2018. The 13-state Midwest, which includes Nebraska, witnessed relatively less rise in bankruptcies—at 13 percent.
Still, Nebraska saw six more farm bankruptcies in 2019 than in 2018, bringing its total number of Chapter 12 filings to 37, matching stats in Kansas and Georgia. Only one other state, Wisconsin at 48, had a higher number of total farm bankruptcies during the same time period.