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Re: Re: Out of curiosity
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Posted by John (C-IL) on November 18, 2002 at 20:22:11 from (205.188.209.109):
In Reply to: Re: Out of curiosity posted by david on November 18, 2002 at 19:08:01:
David, I said NET income. That's after you pay for all of the expenses. This year I had a very good year between farming and my custom spraying operation. My net income will be about $50 per acre, but I only farm 118 tillable acres so you can see that my net income will be about $6000. I would say it would be fair for you to take that times 7 to get an 800 acre farmer that will make about $40,000. We had excellent crops and a decent price this year. It hasn't been that way for a while. Oh yeah, 150 bu. corn at $2.40 net per bushel would give you $360 gross income per acre times 400 acres is $144,000. Beans aren't as good 50 bu. at $5.50 per bushel $275/acre $110,000 for a total gross of $254,000. So, if you have a net of 40K and you own the ground. you have $214,000 to pay expenses and make capital purchases. If you pay cash rent here it will cost you $120,000 for rent. Average production expenses will be about $60 per acre $48,000. Other expenses will run you about $20 per acre $16,000. So, if you are renting you have about $30,000 for annual machinery payments. Sorry I was so long winded, but farming is a very treacherous financial adventure.
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