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SE Iowa | For those of us who have been around awhile, this is no big deal. Since when have farmers made money every year they farmed? I too remember $9 hogs. I sold some for less then I paid for them as 50 lb feeder pigs which cost me $25 a head when I bought them. Not a small loss, a HUGE loss. When I farrowed my own I remember buying corn for $3.60 a bushel, sky high corn price at that time because of drought in 87,88,89 to feed to hogs when the price for hogs was well under COP for a time. In short order hog prices came back and I was raising them for a profit again. Cattle farmers remember the 70's when guy after guy lost their ass and silos became the money pit and were never used again. Farming is cycles. Low prices cure low prices. I guarantee the current cattle market will not hold and guys will feed cattle for nothing again and some will go broke. I told this to a young cattle farmer and he did not believe me. No surprise! Enjoy the profitable years and prepare for gloomy years. Spending $100,000 a year on cost of living does not sit well with my game plan. Young guys would do well to listen to some of their older neighbors. Bells and whistles never put food on the table and in the 80's sank many a neighbor. | |
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A sincere question for midwestern corn producers.
