NEWS
Financial Woes Hit Livestock, Ethanol
Marcia Zarley Taylor DTN Executive Editor
Thu Nov 5, 2009 09:44 AM CST

HADDONFIELD, N.J. (DTN) -- Deterioration in the credit quality of ethanol and livestock producers is prompting a flurry of debt restructuring and higher loan losses at the Farm Credit System and other ag lenders.

In a report issued this week, the Farm Credit System's Funding Corporation said that it had set aside $733 million to cover anticipated loan losses for the nine-month period ending Sept. 30, up from $124 million a year earlier. Most of its problem loans are concentrated in ethanol, dairy and swine, although other specialties like forestry had also been hurt by the housing recession.

Overall, 95 ...

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