Milk might adjust to 40 dollars /cwt but that does not mean demand will stay constant. People can laugh but I believe there is such a thing as pricing ourselves out of the market. I look at the consumer habits of the people I know that are not in agriculture and see it is very possible to alter demand characteristics and very likely on a long term basis. A lot of people today do not live like a couple of generations ago where they have to have meat and milk on a daily basis. There are not the pro-agriculture politicians in Washington like years ago and those wishing that the government getting out of the business of production agriculture may get their wish. But like the old saying goes "Careful of what you wish for because you might just get it." I think even the staunchest conservatives here were taking USDA payments back in the dark days of the 1980's. I remember the philosophy expounded back in college was that if the government got out of production agriculture with no farm bill or USDA that effect would reduce land values by a third. Good if you are young looking to buy land but bad if you are close to retirement or inflated land values are keeping your balance sheet healthy.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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