What's the most profitable way make cash, farming

[midwest]

What\'s the most profitable way make cash, farming

I have just purchased a farm with 120 acres in Missouri. Most of it is in CRP now, but will be out in 2007-2008 seasons. I grew up on a farm, but did not know what actually made the money. Almost all of the land is tillable and has very good soil characteristics. I was just hoping that someone on here could give me some suggestions on how to make some hard earned money.

P.s. It does have several out buildings and is set up to run livestock on 35 acres of fenced ground.

 

[Slamfire]

Re: What\'s the most profitable way make cash, farming

Find a local market for something nobody else produces. Some grains sell well to folks into organic eating. Do not choose a crop before you find the market though. /forums/images/graemlins/tongue.gif

 

[Charolais]

Re: What\'s the most profitable way make cash, farming

Don't invest in anything that eats while you sleep!!! /forums/images/graemlins/laugh.gif /forums/images/graemlins/laugh.gif /forums/images/graemlins/laugh.gif

Just kidding.

Check with your extension agent. They might have some numbers and ideas.

 

[hobbyfarm]

Re: What\'s the most profitable way make cash, farming

midwest,
Welcome to TBN, very important business to take care of here is to fill out your member profile. It give fellow members "more teeth" to their advice. Otherwise it's just general advice.
Goood luck with your farming adventure.

My uncle (he's a farmer/rancher) once told me "How do you make a million dollars farming?"
Answer: "Start with a billion dollars." /forums/images/graemlins/grin.gif

 

[Soundguy]

Re: What\'s the most profitable way make cash, farming

Rent the land out to an existing farmer.. get paid up front.. get a job.. at the end of the year you will have worked less, and probably made more money than the farmer renting your land... /forums/images/graemlins/frown.gif Sad facts.. but more and more true every day.

Soundguy

 

[RickB]

Re: What\'s the most profitable way make cash, farming

There are hundreds of guys out there farming a thousand acres for the love of it and working a full time job out of necessity.

 

[Indydirtfarmer]

Re: What\'s the most profitable way make cash, farming

This is what's known as a loaded question.....

I have a couple business's, work a day job, AND consider myself a "full-time farmer". I currently have in production, about 1400 acres. (Approx. 500 corn, 500 soybeans, 150 hay, and the rest woods or unused pasture)

My family has farmed since 1816.

Long story short, this ain't my first rodeo.....

Doing a corn/soybean/wheat rotation will average out at around a paultry $45 to $60 an acre PROFIT when all is said and done. (averaged over the last 10 years or so) You won't get rich without doing THOUSANDS of acres. In fact, the smaller your operation is, the LOWER those numbers will go....

Hay CAN make more money, but it isn't a lock..... I do a great bit of business with horse people in my area. I manage to grow a good grade of hay. It sells for $4(+) a bale. With fertilizer/pesticide/fuel/labor/equipment/storage cost figured in, I make about $160 an acre on average. (But don't think you can do that on hundreds or thousands of acres.... It's taken me 20 years of "marketing" my product to reach the level of sales I have now)

There's a number of "unconventional" farming practices out there. I have a friend that is part of a family run operation that has U-Pick-It veggie/strawberry, a vineyard, a winery, and a restaraunt. They bag some serious cash, but have a VERY serious investment (of both TIME and money)

Another friend runs an almond operation in norther California. He knocks down some big bucks, but he has spent most of his life getting to the point where he's at now. Literally MILLIONS invested.

You want to know how a farmer gets rich????? You go WAY in to debt, work your entire life to pay your bills, struggle to make a crop, pay off your land about the time you're too old to continue, THEN look at your net worth...... IF your land is paid off, you're worth hundreds of thousands, if not millions......IF YOU SELL OFF YOUR LIFE'S WORK.

Just don't look to amass a big pile of greenbacks in the bank by growing corn. It just don't happen that way....

Sorry for turning this into an editorial on the American farmers way of life..... I'm just a bit passionate about the subject....

 

[johan3400]

Re: What\'s the most profitable way make cash, farming

Indy, you could not have said it better. I am a past farmer, now returned to the farm at age 53. I decided to operate a vegetable farm and attempt to make a go of it. I have contracts with several restuarants and felt I had most bases covered. we started the spring with cold weather and then May 11 a hard frost. We have now been since then without rain. I am now looking for a full time job to pay the bills and operate the farm nights. I still believe in the future, but will enjoy the comfort of a job to pay the mortgage. All this to say there is no easy way to make good money on the farm. It requires hard work, faith and determination to face nature. I still would not trade the life for anything!!

 

[RalphVa]

Re: What\'s the most profitable way make cash, farming

I took an organic gardening class a couple years ago. The instructor invited us out to his "farm". He makes a living selling organic produce at Saturday farmers' markets here in C'ville and Harrisonburg.

I went out to look at his place. He has a large green house, but not a monster. He tills about 2 acres of the 5 he has. He has a BCS to do his tilling and plowing. He hired a local farmer for the inital plowing though.

It's just him and his wife living in a little trailer house powered by solar cells on the site. Theirs is a true organic operation.

Ralph

 

[megotatractor]

Re: What\'s the most profitable way make cash, farming

a good printing press with good paper. /forums/images/graemlins/grin.gif