The diversity in the agricultural economy through the Midwest and nation have been helping to give some strength to the agricultural economy, according to Compeer Financial’s president and chief executive officer.
Rod Hebrink said that diversity also has been a factor in keeping Compeer in a strong lending position.
“It isn’t one industry,” he said. “Sometimes we forget that. Whatever part of the country we’re in, we think agriculture is uniform. It is not.”
Hebrink said it’s no secret that the dairy industry has been suffering, but that there’s even hope in that area with prices starting to show some life.
“We’re back in the black, but it’s going to take some time to recover,” he said.
Compeer is doing very well financially, he said, with plenty of diversification in its portfolio. He cited the merger that formed Compeer as giving that diversification that spread
Hebrink said Compeer is working to help farmers accept the need to adjust and make changes to find ways to become resilient. That includes working with the University of Wisconsin-Extension to host a Resilient Farms conference Dec. 12 at the Kalahari Conference Center in Wisconsin Dells.
He said Compeer also continues to focus on its involvement offering grants to communities to help rural communities thrive.
Scott Schultz interviewed Hebrink at the recent National Association of Farm Broadcasters convention in Kansas City: