Correct me if I'm wrong, but I can't understand is how a farmer can ever pay off the bank when he pays $5000+ acre to buy land, or $300 plus an acre to rent, then spends $3/4 million for a new tractor, planter, and combine. Add to that the fuel, oil, fertilizer, insurance, taxes,and other perifrial cost. Also, large farms have more than one high dollar tractor and equipment, plus trucks and grain storage with dryers, etc.
Even with high current grain prices, I just can't see ever paying everything off free and clear.
I couldn't sleep at night being in debt like that.
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Today's Featured Article - The Niagra View Mobile - Powered by a 1959 Ford Tractor - by Mark Massey. In 1959 the Niagara Frontier Transit Inc. of Buffalo, New York designed and built six Viewmobiles for the Niagara Frontier Sightseeing Inc. for use as a sightseeing ride at the Niagara Falls State Park, Niagara Falls, New York, powered by a 1959 Ford 611 Tractor.
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