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Veteran Advisor

Ag Secretary calls Agriculture.com

USDA Secretary Tom Vilsack visited Thursday, by phone, with Agriculture.com's Business Editor Dan Looker.

 

Here's an excerpt: He was planning to meet Thursday with key members of the Senate Agriculture Committee on a farm bill that Senate Majority Leader Harry Reid (D-NV) introduced on Monday.  "…the message is that we want their assistance and help and we want to offer our assistance and help to get this done quickly," Vilsack said.
 
Vilsack wasn't concerned that none of the 19 cosponsors to Reid's bill, which is understood to be a reintroduction of the Senate bill passed last year, were Republicans.

 

Read full story here.

 

I hope this helps you feel updated on the whereabouts of a new farm bill.

 

Mike

 

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11 Replies
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Senior Advisor

Re: Ag Secretary calls Agriculture.com

I'm not certain I understand the contents of a new bill reintroduced by Reid. If the backbone is subsidized crop insurance in the form like we've had I would expect the outcome to be as traumatic as the 80's as expansion of farm size would be driven by the ability to offer rents with only a $10 margin - or less - to build a base with a firm subsidized back stop.
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Honored Advisor

Re: Ag Secretary calls Agriculture.com

Mike ,

 

I thought the discussion on Hagel was interesting if not odd and creative.  Doesn't the appointment actually move a farm state republican out of the way in congress.  Why are so many going out of their way to support that appointment

 

It seems odd to me.  How does the secretary of defense have such an impact on life in farm states???

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Honored Advisor

Re: Ag Secretary calls Agriculture.com

Thanks to daniel for this!!

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Esteemed Advisor

Re: Ag Secretary calls Agriculture.com

Totally agree Palouser. The midwest is in the middle of the crop insurance windfall right now. Note land prices and rents. Pretty easy to connect the dots. I just can't understand why they think we need or want higher subsidies or higher coverage levels.

 

The currency is toast....plan accordingly.

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Senior Advisor

Re: Ag Secretary calls Agriculture.com

ie, keep your powder dry...........and wait for an opportunity to pounce.........

 

while I can appreciate your willingness to acknowledge the facts.........

 

you know as well as I do.........if corn goes to $3 or $4 and land takes a 30-40% haircut..........you will be buying it hand over fist.........

 

so denouncing a current situation to portray an image of concern, followed by an unquenchable thirst to want more..........well its kind of two sided..........bobblehead if you will...........

 

the numbers dont lie.............especially if you believe just half of the PEAK CORN story..........

 

IMO, the bigger unknown or X factor we are dealing with, that hasnt been discussed much is the consumers ability to survive at a sustainable level that is higher than today.............$8 corn might be high today............but 10 years ago $4 corn was high, and I dare say it is now CHEAP..............

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Honored Advisor

Re: Ag Secretary calls Agriculture.com

!0 years ago a $20,000 new car was expensive.......Looks pretty cheap today.   Consumers have an uncanny ability to adjust.........because they have to.

 

I turned white as a sheet 5 years ago buying a farm for over $4,000 an acre........A neighboring farm sold today for $9,100 an acre.    Kinda makes that $4,000 an acre land look pretty cheap.

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Honored Advisor

Re: Ag Secretary calls Agriculture.com

Only if you can make the pmts out of free cash from operations. Or just write the ck.
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Advisor

Re: Ag Secretary calls Agriculture.com

A farm bill with a conservation provision connected to crop insurance eligibility is something I oppose.  I do not believe our government should be  socializing private property rights, because groups of non farmers seek to control how private land is farmed.

 

 Those not participating in farm grain programs, such as myself, should not be saddled with farm plans or conservation compliance when not benefiting from the welfare checks received by those who probably would not be farming if they did not receive them.

 

The next step will be to provide hunting rights and bird watching rights on any private property receiving a government  welfare check.  

 

No farmer should be hamstrung by a group of ISU professors or graduates from that "institution" when they have "no skin in the game".  If they want to co-sign mortgage debt, and operating loans for farmers who borrow money, then perhaps they have standing to raise this issue.  Otherwise . . . "go suck an egg."  Adios Amigos. John

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Advisor

Re: Ag Secretary calls Agriculture.com

Land was never cheap . . . not even the land I paid $400 an acre for after the crash in the 80's, The tile I installed cost $800 an acre or more,  twice what I paid for it.  I still remember how tough it was sometimes to make that payment to the bank that held the mortgage on $1.85 corn and $4.75 beans, while livestock producers were standing in tall clover.

 

 So you can maintain a false belief that the land bought and paid for was cheap with what it is worth now, of course you are delusional in your belief that you made a good decision.  The only thing a decision made back then did was let you continue to gamble that you would be (in the case of Iowa) one of the 85,000 farms left in this state.  

 

That good decision only materializes if you are a speculator instead of a "real" farmer and sell.  Real farmers do not sell land . . . their children do! I still hold land purchased by my grandfather in 1894, and I am sure that parcel was not cheap when he purchased it in his time.   Adios Amigo. John

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