Oklahoma farmers doing well in tough economy

TULSA, Okla. (AP)--Oklahoma farmers and farm lenders say they're seeing little affect from the current economic crisis that's hit the financial world.

John Poindexter of Farm Credit of East-Central Oklahoma in Broken Arrow says he's making loans every day and nothing has changed from his perspective.

And Oklahoma Farm Bureau President Mike Spradling says agriculture is stable thanks to good prices and good weather.

The demand for crops such as wheat, corn and soybeans is pushing up those prices and the price of beef is at a near record 95 cents per pound.

But the credit problems could affect farmers by next year's planting season. The prices of feed, fertilizer, fuel and equipment are rising and they will have to borrow money to buy supplies.

11/10/08
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Date: 10/31/08

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