That number would be correct as an average. Here in North-East Iowa the number would be a lot higher than that. With land costing $7500-10,000 an acre now. Large tractors and combines costing hundreds of thousands of dollars even used. So a million dollars would not go far.
200-300 acres of tillable ground will cost $2-3 million dollars. Annual rents are $250-350 for this year. So rent for 2500-3000 acres of ground will wipe out a million just for the rent. 500 head of fat cattle will be around $750,000. Heck 500 feeder calves would be in the $450-500K range.
With the average grain farm being 2000-3000 acres makes farming a very capital intense industry.
Local farm family has bought over $10M of ground in the last ten years. They are good farmers and managers but that is a staggering amount of money just in land. They have cattle and equipment debt on top of that.
The numbers are mind numbing. It is hard for me to keep them in perspective. I started out with $10,000 saved in 1978. Got by on family living cost of $10K for years. Now $50K is not living fancy for a family of four.
Upload one or more videos to your post. Photo and video filesizes should be less than 5MB. Formats allowed are gif, jpg, png, ogg, mp4, mov, and avi. Be sure to use filenames without spaces or special characters, and filetypes of 3 digits lower case.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - A Brief History of Tractors in Australia - by Bob Kavanagh. After Captain Cook's exploration of the east coast in 1770 the British Government decided to establish a penal colony in Australia. The first fleet arrived in 1788 and consisted mainly of convicts who were poorly equipped and new little of farming techniques. The colony remained far from self-supporting and it was not until the early 1800's that things started to improve. Free settlers started to arrive, they followed the explorers across the mountains and where land was suitable set up farms. T
... [Read Article]
Latest Ad:
Sell 1958 Hi-Altitude Massey Fergerson tractor, original condition. three point hitch pto engine, Runs well, photos available upon request
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.