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Four Reasons Why We Aren't Likely to See a Replay of the 1980's Farm Crisis

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Abstract

There are plenty of alarming signs indicating a possible farm crisis: current corn prices are half the 2013 peak level of US $7/bushel; farm income has declined for major commodities (corn, wheat, cattle), falling from the previous year to levels well below recent years; weak farm income and worsening credit conditions continue to trim farmland values, which are expected to trend lower in the months ahead, thus weakening the equity position of producers and the collateral value for lenders. Given the heightening farm financial crisis, many agricultural lenders, academics, and other stakeholders in the US farm sector worry another farm crisis is looming. However, there are four economic and legal reasons why this farm downturn is unlikely to slide into a sudden collapse of agricultural markets.

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  • Wendong Zhang, 2017. "Four Reasons Why We Aren't Likely to See a Replay of the 1980's Farm Crisis," Center for Agricultural and Rural Development (CARD) Publications apr-spring-2017-5, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    • Handle: RePEc:ias:cpaper:apr-spring-2017-5
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    Cited by:

    1. Wendong Zhang & Kristine Tidgren, 2018. "The Current Farm Downturn versus the 1920s and 1980s Farm Crises: An Economic and Regulatory Comparison," Center for Agricultural and Rural Development (CARD) Publications 18-wp577, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    2. Ifft, Jennifer & Jodlowski, Margaret, 2017. "Federal crop insurance and agricultural credit use," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 259120, Agricultural and Applied Economics Association.

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