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Farm and the pacific rim countries, they like high-protein wheat, and that s what we raise here. so being the market is low, ever since last year at harvest this time, i sold wheat for $5.70. the market today is $5.82. there used to be up to $1 bonus on protein from 12 protein to 17, there would be a $1 spread. right now there s 5 cents. so we raise a lot of high-protein weeheat, so we re taking about a $2 hit from last year, $2 to $3 hit. and we re about $70 to $75 an acre we re losing by harvesting a little bit above average crop right now. so how do you keep going? well, older guys like us, we ve built up equity all our lives. most farmers are land rich and cash poor, so we ll take out loss loans and stuff against our ....
Half their 401(k) is what they re asking farmers to do, taking all our markets away from us. it s no different, you know. we build up our equity. we own a lot of land, but we re kind of cash poor. and they they put the hit on us here, and the young farmers don t have that equity to fall back on and do loss loans like a lot of people are going to have to do. i m using the words you said, what about you old guys? but how long can you hold out if things continue to go the way they re going? well, you re almost kicking yourself in the rear-end for not getting out two years ago. some guys did, and we thought they were crazy. it looks like it was a good move. you re going to get to the point where no one s going to buy any machinery or anything, so what good is it going to do to sell out? it s i there s got to be an end. we were in d.c. last year and top trade guy said it s going to be at least six to eight years before we get our markets back even if we do get some of these trade ....
Us here, and the young farmers don t have that equity to fall back on and do loss loans like a lot of people are going to have to do. i m using the words you said, what about you old guys? but how long can you hold out if things continue to go the way they re going? well, you re almost kicking yourself in the rear-end for not getting out two years ago. some guys did, and we thought they were crazy. it looks like it was a good move. you re going to get to the point where no one s going to buy any machinery or anything, so what good is it going to do to sell out? it s i there s got to be an end. we were in d.c. last year and top trade guy said it s going to be at least six to eight years before we get our markets back even if we do get some of these trade things done. china has started importing ....