Re: From one who might know a bit about this topic

Posted by Iowa Corn and hogs on August 27, 2010 at 16:32:00 from (75.104.160.54):

In Reply to: Mega farmers posted by flying belgian on August 26, 2010 at 21:28:24:

I do about like Ia Gary as far as talking to landowners.

I have a degree in Ag Economics and another in Agronomy. I took some large--very large--but highly calculated risks early in my career and they paid off. I always do as the numbers say I can do, not what my emotions may want.

I have never had a new vehicle or a new piece of machinery. That's not to say I haven't bought a lot of late-model, low-houred stuff, because I have and still do all the time. I usually buy outright and sell my excess stuff rather than trade.

I do what works for me, not what the neighbors do.

I NEVER go see a family in grief--I know it costs me some opportunity, but I have to live with myself, too.

I send my helpers to the neighbors when they are in a bind, and some of them remember that when the need a tenant.

I raise LOTS of livestock in a mainly cash-grain area. Manure is my main fertilizer.

I do all of the chores myself on Sundays and holidays. I sometimes lay awake at night worrying about the markets, or how to fill a key position when someone leaves abruptly. Sometimes I feel I spend more time managing people more than I actually work at raising crops and livestock. Margins are thin--I need a gross of 2 million to make it all work. I have paid income taxes every year I have farmed except one.

The headaches I have are self-inflicted since I grew my operation to the size it is out of my own free will, but it has been a tremendous amount of work. When you are "at the lake", or just watching tv at night, I am most likely looking at my numbers trying to become more efficient and hopefully more profitable.

I skip that new car, new pickup, nice vacation, etc, and use the money as a down payment on something with a positive ROI.

I have not, or will not ever, inherit anything but a good work ethic.

Try it sometime, it is not as easy as you might think.

Iowa corn and hogs

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