Up till 2000 it was relatively good here .
By 2004 it was far worse after a massive hail storm in 2000 , droughts 2001 and 2002 then the 2004 August frost .
That’s when no one could afford debt ... let alone payments on anything.
If that series of events happen again now it would wipe most of us right out .. fast .
Regardless, farm debt is much higher now than back then for several reasons , but the three by far are , seasonal input debt loads , land costs/rents and machinery.
Revolving lines of credit are huge now on a lot bigger farms , that’s just a function of farm business on a bigger scale now . Also most farms have been forced into purchasing most inputs 6-9 months ahead compared to 2000 .
That may effect overall debt numbers ???? I am not sure , but a lot has changed since 2000 that I am sure lol
By 2004 it was far worse after a massive hail storm in 2000 , droughts 2001 and 2002 then the 2004 August frost .
That’s when no one could afford debt ... let alone payments on anything.
If that series of events happen again now it would wipe most of us right out .. fast .
Regardless, farm debt is much higher now than back then for several reasons , but the three by far are , seasonal input debt loads , land costs/rents and machinery.
Revolving lines of credit are huge now on a lot bigger farms , that’s just a function of farm business on a bigger scale now . Also most farms have been forced into purchasing most inputs 6-9 months ahead compared to 2000 .
That may effect overall debt numbers ???? I am not sure , but a lot has changed since 2000 that I am sure lol
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