Texas Weather Causing Financial Trouble For Many

: Chris Lee Law Firm

  Filed under: Bankruptcy

The record breaking temperatures and continued drought conditions are increasing the heat in our pockets as well as the outdoors. Triple digit temperatures have begun to put pressure on regional farmers and ranch owners. With virtually no rain for nearly three months, land owners are beginning to feel the financial pressure.

ranch bankruptcyLost Profits

During already tough economic times, Texas ranchers are watching their money fly away with hot wind. Baked pastures, dried up ponds and burnt vegetation isn’t the ideal land for raising livestock. With hardly any water to sustain the vegetation and little food for the livestock, the future of potential profits is at risk. When the weather stands in the way of a rancher’s way of life, they have only two choices: sell off their livestock to avoid financial disaster or risk losing their animals to natural causes at the hands of Mother Nature.

In either case, the rancher loses profits. Selling livestock seems the only humane way to solve the problems of the livestock and keep the rancher out of bankruptcy. Many farms and ranch owners are holding onto hope for rain, but  are looking for alternative ways to stay out of financial trouble while they wait. One rancher sold nearly 80 heads of livestock in attempt to ease the financial trouble that lies ahead. Others are simply suspending operation until they can reopen and obtain some profits.

The outlook doesn’t appear any brighter for these ranch owners as the price for livestock is expected to increase after the harsh summer ceases. Now that many were forced to sell of their livestock, demand for livestock will spike as soon as the ranch land becomes habitable once again. Unfortunately, the fate of many regional ranches appears bleak. Many are considering closing for good after resolving their current debt load through bankruptcy protection while preventing their land from entering foreclosure.

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