Date of this Version
Cornhusker Economics, October 14, 1998, agecon.unl.edu/cornhuskereconomics
Crop and livestock prices have been universally low for Nebraska farmers and ranchers in the last few months. There have been conversations about whether the current conditions constitute a crisis, and how it is different from the farm financial crisis of the 1980's. Regardless of the differences or similarities with the 80's, many farm and ranch families are facing drastic reductions in income. There are, of course, exceptions. In view of the current situation which most families are facing, I was recently asked to speak on the topic of “Strategies for Dealing with Low Prices.” Following is a brief summary of the suggestions that I presented.