Posted by dk on February 04, 2008 at 09:57:01 from (216.209.144.77):
In Reply to: appreciate a listening ear posted by old fashioned farmer on February 03, 2008 at 17:43:48:
Sometimes the world just catches up with you and buying the family farm is too expensive. That doesn't mean you can't farm, just means you can't farm THERE. There are still places you can afford to farm. We bought land (100 acres) 12 years ago for $1500/acre. Bought another 100 6 years ago for $1500/acre. Bought 160 this year for $1550/acre. I can contract winter wheat now out to 2010 at high enough prices to make that land pay it's own way on a 10 year mortgage (and come pretty darn close on a 5 year), even allowing for some hefty COP increases over what's already happening. Of course that still leaves 7 years of who knows, but that's a pretty good situation to be in. I'm looking for more.
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