(Nebraska Now) Nebraska GDP shrinks 6% as farmers face high costs and low commodity prices

LINCOLN, Neb. (KLKN) — Nebraska farmers are facing a tough crop market, and it’s hurting the rest of the state’s economy.

According to a report from the U.S. Bureau of Economic analysis, Nebraska’s gross domestic product fell more than 6% in the first quarter, tied with Iowa for the largest decrease in the nation.

It’s because of losses in agriculture.

Bill Landon, one of many farmers in Nebraska feeling this brunt, said a lot has changed since he stared farming in 1974.

Back then, he thought if he could get $3 for a bushel of corn, “We wouldn’t know what to do with all the money.”

But now, even if farmers get $3.60 to $4, it might not be enough to break even.

Prices have dropped for corn, soybeans and other row crops.

Meanwhile, the costs of farming are going up.

“You look at the input costs of all the fertilizer, all the chemicals, all the insurance, all of the seeds, everything else plus the price of land, especially if you’re a renter,” said John Hansen, President of the Nebraska Farmers Union. “You’ll have an enormous amount of money tied up in a crop.”

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Ishm said:

I can mostly understand the rural support for conservative politics, but this time the rural communities elected the ultimate corrupt city slicker used car salesman who would try to milk a bull and wonder why it tastes funny. I really have no sympathy for those who are so blindly partisan that they won't even read and properly consider the policies of the evil people they are voting for, let alone let questions of morality and truthfulness interrupt their race to tick the 'right' boxes on their voting forms. Maybe next time they might actually think a little deeper about who they support, but I have my doubts unfortunately. Being proudly partisan is basically being proudly stupid.

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btthegreat said:

What Dems cannot do, is support agricultural 'welfare' programs for farmers, like we have in the past. If urban areas must suffer from draconian budget cuts, so must rural communities. Let the farmers and rural small towns figure out what they do to survive, without the govt subsidies for dairy, wheat, soy, corn etc. They apparently don't want the rest of us to have a safety net, let them walk their tightrope without any! All those immigrants that are not here working in the fields, will also not be patronizing any local businesses. They don't buy gas, or food, or socks, or lightbulbs, or hygiene products either

I am also curious what will small towns do when their hospitals, memory care/ assisted living and and nursing homes close or begin to refuse medicaid/ medicare patients and the local doctors move away..

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