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There is new trouble at the ranch. The worsening financial crisis is making it harder and more expensive for farmers and cattlemen to borrow money to pay for feed, land and salaries. While the credit squeeze on the agricultural sector is buffered somewhat by subsidies and other federal assistance, the timing is bad: the costs of fertilizer, fuel, seed and equipment have all risen sharply in recent years, and a global recession is on the horizon. ...more
October 18, 2008
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