State of the State of the Ag and General Economy - Halftime Report

As we look at the agricultural economy, there's a parallel between 2013 and 2020. We often call those the grinder years. Of course, if you recall, we had low prices, but our costs were relatively not inflated, and of course, interest rates were at a record low. This time, however, we have low prices but stubborn inflated costs, and it won't come down. Of course, the interest rates are very, very resilient. There will be stress in margins and cash flows as we move forward; again, there is not too much hope on the horizon. From a big-picture standpoint, we're going to see increased volatility.

Another element you need to watch throughout the summer is the employment reports, and what's very interesting is our employment is very, very strong. However, if you dig in and dig down a little closer, much of the employment growth is part-time. Actually, full-time employment growth is actually in the negative range.

Watch this video to learn more about the state of the agricultural industry and the general economy.