Agricultural Economic Insights Managing Partner David Widmar says farmers should be prepared to return to a more normal year following a time of record farm income. “At some point, we’re going to see incomes come off these record highs,” said Widmar. “That doesn’t mean there’s a crisis brewing, but there’s always a painful adjustment.” Is this situation similar to the 1980s. “One of the key differences is we’re using debt in different ways. Variable interest rates were much more common then.” However, Widmar still encourages producers to update their business models to reflect increasing and more unstable interest rates.
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