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Polaris Racer
Senior Contributor

Re: More aggressive treatment for the cancer of liberalism?

My guess is premiums will go down but so will possible payments. This part of the country will not see any payment as yields were up enough to offset the reduced market price. As I said before I would have no problem with all subsidy's going away but if you don't take them you are at a real big disadvantage to the rest of the farmer that do. After next year  the new farm bill pretty much ends insurance for me so I will be done farming.

schnurrbart
Veteran Advisor

Re: More aggressive treatment for the cancer of liberalism?

By disadvantage, do you mean the other guy has more money than you do? Or what? I don't follow the disadvantage part.
Polaris Racer
Senior Contributor

Re: More aggressive treatment for the cancer of liberalism?

Profit for the other guy is higher , risk is lower. Can you still make it with out the gov programs probably but it would be tough and no room for a mistake.

hobbyfarm2145365
Senior Contributor

Re: More aggressive treatment for the cancer of liberalism?

Entering a thought, you farm 120 acres and buy 5000.00 in crop ins over last few years?  Don't recieve much in payts.  Looks to me like bad judgement finanicaly If you had been banking that 5k over several years you could easly hand a bad year plus some'  5kX5 years is 25K 

 

Your unlike BA and his buddy steele they couldn't get a loan without fed govt as co-signers

hobbyfarm2145365
Senior Contributor

Re: More aggressive treatment for the cancer of liberalism?

The mistake I see in your case is  5k crop ins premium every year. Like you said its just gone

hobbyfarm2145365
Senior Contributor

Re: More aggressive treatment for the cancer of liberalism?

PS< I don't drive around in 40k pickup to inpress the neighbors    I don't carry crop ins and I survive,, pay cash for inputs use good practices to keep costs down.  To many of our govt farmers spent time looking over fences with jealous eyes.  I rather be independent and not a ward of the federal farm programs.  

Polaris Racer
Senior Contributor

Re: More aggressive treatment for the cancer of liberalism?

This year $5k crop yield above income guarantee. Last year 2/3 crop wiped out from early rain. $27k payment for losses. Year before zero payment because prices and yield were above income guarantee. It is not a money making deal to have insurance but when things go bad and they will you can still make a living.

Polaris Racer
Senior Contributor

Re: More aggressive treatment for the cancer of liberalism?

My truck was 32,000 but that is not the point My old one was worn out and I needed a new one. I farm to do the best I can and not go broke doing it. Pay cash for everything  except my last car and truck. If I die tomorrow everything other than the vehicles is paid for. No loan for crops or machinery and just enough money in the bank for the next year. Crop insurance just keeps me on that same path good and bad years.

schnurrbart
Veteran Advisor

Re: More aggressive treatment for the cancer of liberalism?

Boy, insurance must really have gone sky high. I used to farm 100 acres and the insurance was NOT anywhere close to that!! This was in the 90s and first few yrs of new century.
Polaris Racer
Senior Contributor

Re: More aggressive treatment for the cancer of liberalism?

It has gone up with prices of grain. You can bet it won't come down at the same rate.