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Pardon my ignorance, but how does a farmer hit it big?
by eurleif 15y ago
Pardon my ignorance, but how does a farmer hit it big?
- randomdata 15y agoExceptionally high yields, combined with unnaturally high prices. It happens sometimes. The people growing white beans in my area did amazingly well last year, seeing $1,000/acre in net profit, where normally you make little to no profit. Others bank on the sale of all the assets when they retire. A farm that cost $25,000 30 years ago is now worth $1.6M. But when you are starting out, you have no idea what the future will hold. Just as many defaulted on their loans for those $25,000 farms and are no longer in the business.