STAPLES, Minn. -- Dennis Walsh
says the current state of agriculture is "deja vu all over again."
History often repeats itself and few learn to read the signs, he
said to the more than 50 farmers and agribusiness people at last week's Staples Farm Forum.
Farmers usually learn from the past and improve on it, he
understands the challenges and economic pressures facing ag producers and markets.
He raises beef cattle near Harvey, N.D., and is regional president of the First International Bank and Trust.
detailed the ag issues of the past few decades and noted the similarities between the 1970s and 2000s.
The farm sector will face uncertain commodity prices, although Walsh
believes we won't see the wild swings of the last few years.
The economic crisis impacts local markets, Walsh
Domestically, reduced consumer disposable income impacts food consumption patterns.
Beef is directly impacted and the dining industry, especially the high end restaurants, are hurt.
Unemployment also has an impact on food purchases, he
"We've been in a recession for 12 months and it usually lasts less than 24 months," Walsh