It would be nice to think that all of these farmers will somehow bounce back next year, but that isnt likely
Poster Comment:
The world does not want our GMO crops. We are entering the Eddy Grand Solar Minimum. During the Maunder Minimum, wheat prices went up 400% in the UK due to reduced solar radiation and a diminishing of the sun's magnetosphere. We are headed to Nationwide Food Riots and a Civil War precisely because after the Dollar Dies, the poor will have nothing to eat. Cities will be burned to the ground.
#1: Lod To: Horse (#0)
Farms that were purchased for 10K/ac, or more, are in trouble. Soy bean and corn prices are less than half what they were at their peak in the fall of 2012.
Farming is not for the weak of heart or wallet.
Lod posted on 2019-08-13 14:00:31 Reply Private Reply
#2: Horse To: Lod (#1)
Horse posted on 2019-08-13 20:08:08 Reply Private Reply
#3: NeoconsNailed To: Lod (#1)
NeoconsNailed posted on 2019-08-13 20:10:43 Reply Private Reply
#4: BTP Holdings To: Lod (#1)
With the cost of land and modern equipment it is not hard to see why there is a farming crisis.
When I was a kid in grade school in Chicago, teacher was asking all the kids what they wanted to be when they grew up.
When it was my turn, I said I wanted to be a farmer. All the other kids laughed. But back then you could make a living and raise a family as a farmer. Today it is nigh impossible to do that.
I ended up being a truck driver instead.;)
BTP Holdings posted on 2019-08-13 20:19:55 Reply Private Reply
#5: Lod To: NeoconsNailed (#3)
Farmers used to save "seed corn" in the fall to plant the next spring, but in 1996 Monsanto introduced their new magic Roundup Ready seeds that farmers had to buy or get sued for infringing on Monsanto's patented product. This was a huge increase in cost of production, and loss of profitability.
At every step of the way from the field to the grocery store, the middlemen do get their profits.
Some farmers, like one of our tenants, go goofy on having the latest, greatest pieces of equipment to farm their fields, and go into serious debt to have their new "toys" when the old equipment, properly maintained could have lasted for many more years. That's on them, and sometimes, their bankers.
The news last week that China would no longer buy any farm products from US, could be devastating. I guess that they'll look to deecee for some sort of relief.
Sorry for rambling on so long for such a simple question.
Lod posted on 2019-08-13 21:45:44 Reply Private Reply
#6: NeoconsNailed To: Lod (#5)
NeoconsNailed posted on 2019-08-13 23:10:37 Reply Private Reply