Vilsack: “The sky is not falling”

Tom Vilsack attended his last Commodity Classic in New Orleans as U.S. Ag Secretary and said he is optimistic about the ag economy. While crop prices ARE down he says debt-to-asset ratios at 13% are not what they were in the farm crisis of the 1980s. Vilsack says cash rents are still an issue and he recently talked to his farm manager about theirs, “We really probably should adjust those rents down a bit. So, I expect my rents to be less than they were next year. And that’s okay. That’s okay because it’s a partnership and that’s the way it ought to be.”
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