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NEIN | Economics dictate, we will collectively lower production as price continues its free fall. Those who continue with high costs will be forced out and production will come down. Marginal economics always apply, IN THE LONG RUN. I have to laugh when I hear of guys saying you must pay high cash rent to "keep control" of the ground even if it means losing money. Yeah they will do that, SHORT TERM, but in the long run they will adjust their costs or get out. NO magic in commodity production other than knowing opportunity when it hits you in the face and knowing defeat the same way. There is no big bail out right around the corner, this is typical long term commodity production. The 08-14 time frame was the golden area of ag for us baby boomers, you millennial's will have to wait another 30 years or more to see a time when demand exceeds supply by so much to create windfalls like ethanol did for us. But hey, its fun waiting and hoping! jmho | |
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Are you raising less yet?
