My observation is that the price of farmland runs in long term cycles. In 1951, my dad bought his farm, the interest cost was less than to rent a house in town. He was told he'd go broke (in the expected recession.). In the mid60's, my cousin was buying land because he could pay for it with the cash flows in 4-5 yrs. In the mid 70's, partly due to inflation, people believed "If I can just pay the interest, the land will make me rich". In the early 80's, those folks went bankrupt. Today, in mid Ohio, good land is selling for $13-14 k/Acre. Cash flow for grain is about $500./Acre, so break even is 26-28 yrs. I don't know the nos. for pork or dairy. Prices are up because farming HAS BEEN good (and farmers don't know what else to do with the money). In the past, when land prices got high, especially on credit, they soon got cheaper. Learn your craft, and be patient.
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Today's Featured Article - Grain Threshing in the Early 40's - by Jerry D. Coleman. How many of you can sit there and say that you have plowed with a mule? Well I would say not many, but maybe a few. This story is about the day my Grandfather Brown (true name) decided along with my parents to purchase a new Ford tractor. It wasn't really new except to us. The year was about 1967 and my father found a good used Ford 601 tractor to use on the farm instead of "Bob", our old mule. Now my grandfather had had this mule since the mid 40's and he was getting some age on him. S
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