Wisconsin State Journal reports that The American Farm Bureau Federation says that July 2018 through June 2019, Wisconsin farmers filed 45 Chapter 12 bankruptcies.
With depressed milk prices besetting Wisconsin’s thousands of dairy operations, the state has led the country in farm bankruptcies in recent years.
Data shows the total was five fewer than the previous 12-month period but still No. 1 in the nation.
Ronald Wirtz, regional outreach director of the Federal Reserve Bank of Minneapolis, also has pointed to Wisconsin’s smaller average farm size as a factor.
Wisconsin also has lots of farms — the 11th highest total in the nation, data from the 2017 U.S. Census of Agriculture shows. Even accounting for the relatively large number of farms here, however, Wisconsin’s farm bankruptcy rate is among the highest in the country.