Posted by JD Seller on February 09, 2014 at 06:20:50 from (208.126.196.144):
In Reply to: Dairy farmers posted by greg oliver on February 09, 2014 at 04:22:49:
A good friend has 800 cows that his family milk. Just a few years ago when feed cost went sky high and milk price was in the mid teens he told me he was losing $100,000 each month. So it is going to take a long time of higher prices for him to get back to even.
The livestock sector took it on the chin these last years as the grain prices where high. I know of guys that lost just about all of their equity and are back to almost 1980 levels of debt to asset ratios. I don't know how a lot of them are going to survive. They are old men now with a lot of debt. Plus a lot of them just held on with the bank lending against their land at the current values. I really think the farm land prices are on a bubble just like homes where 6-7 years ago. So what happens if the farm land values drop back to what they where 4-5 years ago???
Also over the years I sold equipment high milk prices did not see the dairy guys going wild on new iron like the higher grain prices do. The dairy guys usually update some of their equipment but add cows and barns during high milk price times,if they are not playing catchup.
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