agman said:
Clarence said:
I guess you fellow do not know near as much about the US agriculture as you think you do. In the 1970s and early 80s all or college professors, ag spokemen and the media told us to expand, to use our assets in land,cattle etc. and get bigger and more efficient. Then then the interest rates went out of sight. Just a couple of days ago I talked to a man who agreed that that was what had happened to him. 19% interest, you know who fast that builds up. He said he farmed, had 2 center pivits, when things hit the fan they were worth less than 1/2 of their value. Now he is selling insurance.
To me, those who argue that we have a unified beef industry are some of the biggest liars of them all. Things were going well again in the early 1990s, than when the bottom fell out of the market we were told it was because we were over-producing, still our big brother "partners" bent over backward to import and farther depress our markets. I do not see eye to eye with R-calf, but can very well see why so many people join them. We US cattle producers can produce all the beef we need to fill our domestic market, just give us the prices to allow us to do it.
Clarence, did anyone forge your or his signature on a bank loan? If, not I believe if an error was made it was of one's own doing. I too remember the period well.
I also remember the early 1990's. That was an expansionary period of the cattle cycle. Beef production was at its cyclical low in 1990 and annual fed cattle prices reached their peak that year. Prices turned lower following a severe winter for feeding in 1992-93. Inventories peaked at 103.5 million head in 1996 then herd liquidation began, a result of severe drought in Texas. Cow slaughter that year was 7.2 million in contrast to 2004 at 5.1 million head. The imports you are bitching about were more than offset by exports. Yes Clarence, net imports declined if you were paying attention to all the facts. Now, what were you complaining about and whom do you blame; remind me.
Agman, did you conveniently forget that Pres. Carter embargoed Ag. products to Russia (the market that USA ag was expanding to fill) undermining our credibility as a reliable provider...and Brazil and Arg. (with our help) were poised and ready to take those markets, which they did. Ag lending institutions and banks were more than ready to lend a high percentage of (overly inflated) capital asset value with the urging of the government(Nixon/Ford). Carter's move started the ball rolling that collapsed the whole system. My brothers and I faced off foreclosure, paid six figures on interest, and took 10 years to recover working +100 hour weeks. I remember the times well...and you should watch out telling part of the story...SH will call you a liar. :shock:
Agman: "... in 1996 then herd liquidation began, a result of severe drought in Texas."
The drought didn't stop at the border, Mexico was also liquidating and shipping cattle north per NAFTA, adding to the over supply.
Two half truths in one post...we are waiting SH...Oh, that's right, Agman has nothing to do with R-CALF, so you don't have a problem here. Now what's that word you use all the time? :???: :???: :???:
