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<blockquote data-quote="stocky" data-source="post: 139482" data-attributes="member: 1150"><p>mwb,</p><p> For my cattle business, I have always had to operate on borrowed money. As previously stated, there are ways to operate that have worked for me. There was also a way in 1980-85, with the horrible droughts and grasshoppers that broke almost every farmer in my area, my family included. Many lessons were learned. These people who have posted here have also learned from experiences. They may not all agree, but they all have very valuable experiences that have shaped the best policies for each of them. It is very dangerous for any of us to ignore the lessons that others have learned. I commend your friend for his good fortune in the cattle business. I would only urge you to consider that the last several years have seen, with a few short exceptions, a very steady rise in cattle prices and sustained record cattle prices the last few years. Never before in history have the record prices held like this. Imagine selling outstanding 600 lb calves for 45 cents per pound. This happened within the last 10 years. Fertilize prices are record high, tractor prices record high, pickup prices record high, and land prices record high. With all this, if you are over borrowed and those prices hit again, farming becomes a horrible nightmare instead of your wonderful dream. I would encourage you to research the wisdom of these people's experiences and learn from them and then, ONLY BORROW WHAT YOU CAN AFFORD TO LOSE.</p></blockquote><p></p>
[QUOTE="stocky, post: 139482, member: 1150"] mwb, For my cattle business, I have always had to operate on borrowed money. As previously stated, there are ways to operate that have worked for me. There was also a way in 1980-85, with the horrible droughts and grasshoppers that broke almost every farmer in my area, my family included. Many lessons were learned. These people who have posted here have also learned from experiences. They may not all agree, but they all have very valuable experiences that have shaped the best policies for each of them. It is very dangerous for any of us to ignore the lessons that others have learned. I commend your friend for his good fortune in the cattle business. I would only urge you to consider that the last several years have seen, with a few short exceptions, a very steady rise in cattle prices and sustained record cattle prices the last few years. Never before in history have the record prices held like this. Imagine selling outstanding 600 lb calves for 45 cents per pound. This happened within the last 10 years. Fertilize prices are record high, tractor prices record high, pickup prices record high, and land prices record high. With all this, if you are over borrowed and those prices hit again, farming becomes a horrible nightmare instead of your wonderful dream. I would encourage you to research the wisdom of these people's experiences and learn from them and then, ONLY BORROW WHAT YOU CAN AFFORD TO LOSE. [/QUOTE]
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