Staying Up When the Market is Down

Low milk prices, depressed demand and changing consumer preferences have collectively exerted a heavy toll on the industry and its people. ( freeimages.com )

It’s hard to stay positive through a long stretch of red ink, even in an industry you love. Or, maybe, especially in an industry you love.

Virginia Tech University Professor Emeritus David Kohl has worked with farmers for several decades, and through more than one economic downturn. In a recent video message provided by Compeer Financial, Kohl offered words of encouragement that included the following advice:

  • Surround yourself with positive people. “One of the things I find is that people’s net worth and self-worth often are equated and correlated to the type of people they stay around,” said Kohl. “Do the people with whom you spend most of your time see the cup half empty, or see it half full?”
  • Shut down the social media and TV. Be selective and limited in your use of media, as they often depict extremes. These over-hyped or highly passionate portrayals can be emotionally draining, even if they are extreme examples.
  • Rely on the wisdom of elders. “Sometimes we need to shut down our technology and have a talk with Grandma or Grandpa, or an older person in the community who has been through many of these economic cycles in the ag industry,” advised Kohl. “Their wisdom and philosophy can be reassuring, particularly in these down cycles.”
  • Invest in yourself. Leave the farm for some educational seminars, particularly those outside of agriculture. You are more than your profession – don’t allow your identity as a farmer be the only thing that defines you. Dedicate time for exercise, and take time for reflection as well.
  • Embrace opportunities to serve others. Spending time in service to those less fortunate can provide valuable perspective and help heal your own anxieties. “A friend who recently returned from a mission trip to Guatemala said it was an incredibly uplifting experience,” said Kohl. “There also are many ways to give back right in your local community, especially during the holidays.”

The end of one year and start of another is the perfect time to take a step back and assess business and personal goals, as well as take stock in your blessings that cannot be measured in dollars and cents.

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