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Balance sheet adjustment
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DC4020
Posted 12/24/2024 11:07 (#11024009 - in reply to #11023228)
Subject: RE: Balance sheet adjustment


Central Ga
coup - 12/23/2024 20:09

FarmingMo - 12/23/2024 18:50

How so? We all ain't pushing 70 with a bunch of payed for land and machinery coup. Some of us need the bank still


Nothing wrong with borrowing money. But when a person has farmed 25-30 years, especially with amount revenue generated from grain farming since 2008. Hard to understanding why somebody that has farmed 25-30 years would still need to borrow $ to put in a crop and buy equipment.


Just a few significant reasons.

1. No off farm income.
2. Private school and college tuition for kids.
3. High cost of health insurance and medical bills…usually between 50 and 60K a year here.
4. Smaller farm
5. Highly volatile markets and extreme weather events…especially hurricanes in the south.
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