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Is anyone else.....
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IADAVE
Posted 7/8/2020 18:58 (#8361988 - in reply to #8358607)
Subject: RE: Is anyone else.....


I actually never lost money farming in the 80's. The bad thing was I didn't have access to money. Many were current on payments but banks called their notes and shut off funding. That forced huge losses that wouldn't have happened if the bank would have stayed with them. One banker told me they had to get the money from the ones they could and then hide their losses on the insolvent ones.
Just an example. I bought some hogs that had been almost ready for market. The farmer couldn't get money for feed and the bank wouldn't let him take them to market. I bought as many as I had money for. I sold most before the first feed bill came at over $100 a head profit. I paid my bank off. The guy that sold them is probably still making payments! LOL
Back to the original question. Making money remains to be seen. Historically I have made more when I thought I wouldn't than when I had a sure thing.
It is also pretty hard to lose money with paid for land and machinery. I do have some cash rent and looking to have rather large land maintenance cost this year.

Edited by IADAVE 7/8/2020 19:01
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