9/10 farmers had thier insurance for farming and output insurance guarantee canceled. They said it was a natural issue and anyways, yup. Looks like those insurers ran away like a bat out of hell.
That’s fucked up
Definitely no where near the bottom.
That’s an absolute pipe dream for anyone to think they are going to get high prices for a farm commodity that is this easy to grow. The only reason prices were high to start with is because of long term illegality followed by strict regulation. At the farmer level this plant will literally ultimately sell like peanuts .22 to .24 dollars per pound. If I am wrong it will be me over estimating. Prepare to make money at that price if you want a future farming hemp.
You sir are absolutely correct. Hemp = commodity
It was fun while it lasted. 1 year lol
Everyone wants to go to heaven but nobody wants to die.
The reason that cannabis was the highest selling produce for 40+ years is because it was illegal and continues to be. You have to break the law to get that big check.
There’s also the simple fact there’s way more supply than compared to what actual demand it. It seems like the assumption was everyone and their grandma was gonna take some cbd. It’s not some miracle cure, and not everyone is going to use it.
Personally, I’m glad this crash is happening, sorry for the farmers and all that, but this was straight snake oil shit being put out.
Cbg is next…
This conversation is about…processor-bound hemp destined to become cbd isolate, right? The easy money has gone, I agree, but there are countless other products and ways to position one’s self. Smokeable flower market is soft, but has not crashed like isolate prices. This web site has several ads wanting to buy cbg flower.
Show me a hemp farm disaster where the farmer knew how to process and market beyond just growing. I see a lot of failures, but not like that. That 94% of Wisconsin hemp was grown by farmers who had no plan for it other than isolate manufacturers.
And we are just scratching the surface of cannabinoid research. New discoveries will be made about the minor cannabinoids. There could be a gold rush boom and bust for multiple substances. And someday, while I’m dreaming, we might get an FDA that acts a little less like the DEA, and stops terrorizing its own citizens. In that case, larger players would enter the cbd space and create demand.
Some farmers should give up on hemp, but I think for those who focus correctly, there is still money to be made.
High grade smokeable flower takes most skill and experience to produce. It will be rare for it to be less than .3 % total thc and actually smoke good.
So the hemp industry is the one where the “farmer” has to be a jack of all trades?
Hemp Industry “make it” kit.
- Hemp Farm
- Processing facility
- Extraction Lab
- Manufacturing facility
- Retail processing/Packaging facility
- Distribution company
- Retail outlet(optional?)
- Did I miss anything?
Just imagine if this was standard for every commodity.
You actually think you need to be 100% fully integrated right now to be making it in hemp?
It actually is pretty standard for any small farm to have to put effort into processing and marketing products. As far as your list goes, #2 is my barn and #3-5 are my girlfriend’s kitchen. That will have to change in 2021, but for now in home processing is still allowed. And I don’t need my own retail outlet if I can be on shelves at existing retailers.
I see seed companies and their huge minimum order requirements as the biggest barrier right now for small farmers. That’s why I make my own seeds.
This forum has become “how fast will it sink” while simultaneously contributing to problem through undercutting and constant price drops…
Agreed, hopefully we see less and less posts about hemp processing period.
The market is undercutting itself because there’s not really that much of a market. Cbd, cbg, thcv, etc, are all just niche items. The market is as big as the market for shit like echinacea, not very big at all, and there needs to be a major culling.
5 years and this all is near worthless, and only thc is gonna make any money…
I think the best thing will the clean soil due to the hemp farming once the farmers go back to what they used to farm.
@Autumn_Ridge_Hemp, It missed you my bro.
How many corn, wheat, tobacco farmers do you know that do anything past harvest/drying?
I dont know any tobacco farmers, but you are right in that corn, beans, and wheat farmers are not used to getting off the tractor, much less processing and marketing. But that is big farming. Small farms are more likely to grow the labor intense crops like tomatoes, as well as do some marketing through CSAs, farmers markets, retail outlets, and restaurants. Cottage foods are taking off, processed at home. I see hemp fitting well into that business model.
I think only 2-6 would be fully needed to be a huge national player. I don’t see Lays growing potatoes.
I also don’t see (99% of) small hemp farmers existing within 1-3 years. It will just be large farms selling to even larger processing/manufacturing companies by the bushel at prices similar to corn.
I’d be very curious what the unsold material tests out at.
I’m an extractor in Colorado, in the last year or so a kilogram of crude went from selling near or above the $2000 mark to less than $400 even for a quality, cold extracted and decarbed product.
We know full well that plenty of product got ground whole plant and it seems that few extractors are able to separate stem, stalk and seeds out from otherwise extractable biomass. Even less farmers are able to do that from what I’ve seen.
At some point the extractable material won’t yield enough to pay for all the inputs you have into growing it, extracting it and any further refining you have to do to it to get it to distillate or isolate if you’re going to sell it wholesale. Anyone who can do extraction or refining on a split still wants to make money, hard to pay the mortgage with hemp biomass or any derivative product. Banks and landlords tend to want cash.