Originally Posted by xbook
So basically this article you posted is saying that farmers need a gov't bailout?
I don't believe that is what Mr Ellis is saying. I think that he is calling to our attention the fact that when the harvest season gets here it's going to be bad. (nothing coming out of the fields) The consumer (you and I) are going to end up paying though the nose for agriculture based products. He believes that the USDA screwed up by not releasing grazing land early enough to stop the selling off of cattle herds and driving the price of meat down for now. With the national herds gone the price of meat will soon soar to new highs. The same for poultry. With a low corn yield the price of chicken feed and cattle feed will escalate. With no raw product coming from the fields, that cold glass of beer that some of us enjoy will cost much more. You guys that live in the big cities, the price of blended gas for your cars will go up. And the list goes on and on. Just think, if there is any direct or indirect link to the Ag business the consumer cost is going to rise.
Agriculture giant ADM
, based here in Decatur, just announced yesterday that starting next week layoffs will begin taking place. I'll bet that will snowball to other business quickly. But, will this cause a rise in unemployment, probably so. So the now 8.2% may soon become 9 or 10% by November? Who knows where this economy will end up at next with this coming like a fast freight train at it.
Government bailouts? Get real these guys are farmers are not GM or "to big to fail banks". So look for a lot of farms to be foreclosed on in the next year or so.
Check out this CNN article--> http://buzz.money.cnn.com/2012/07/31...oybean-prices/