Low prices for grain, milk and beef are causing many Midwest farmers and ranchers to worry about paying their bills this year.
With prices for some farm staples in the tank, many farmers will be lucky to break even this year.
Roger Johnson, president of the National Farmers Union, is worried that lean times hit farmers harder than other business owners. “If you’re having trouble as a farmer or rancher, it’s not just your job that you’re having trouble with, it’s your whole livelihood, it’s your home," Johnson says.
Because the downturn comes after several years of relatively good times on the farm, Johnson says many farmers may have enough cushion to weather the current storm. That is, if they’ve managed to avoid a high debt load for mortgages and equipment.
