Good example of Black Swan. The more leverage the more damage. Ranchers should be throwing a big party and feeding poor people in their district with a big steak cookout.
This is an example of the free market. The ranchers that predicted this are making a killing now. It's survival of the best ranchers. Only the weak perish. Seriously, most of the ranchers vote republican then ask for handouts, what the heck. Have some pride! If you're bankrupt it's your own freaking fault for being overleveraged! You didn't diversify enough. Or didn't buy insurance.
That's because there's a good old boy network in Congress. You give me the vote for welfare programs for my inner city constituents and we'll package some ag handouts into the bill.