New Tractor Sales Are Declining

[Gale Hawkins]

How about the brands that actually are better. Doesn't it cost more to make a better product?

Do you know the Tesla and Ford stories?

 

[ovrszd]

Successful farmers are always "Asset Rich, Cash Poor".

With that said my very good friend, a very large farmer, can buy me out of his Petty Cash. But his assets are hundreds of times greater.

He owns two houses in Florida Keys. A mansion with a 3 boat "garage" on the lake at Branson. Condominiums in Florida. A massive ranch in Montana. His own private Jet. Buys and sells real estate assets constantly.

If you as a stranger asked him what he does for a living he would say "Farming". Every Spring he's involved in the planting. Every Fall he's involved in the harvesting.

 

[Fixastuff]

The farmers I know may like farming, but dang they complain about it alot

 

[Torvy]

There are additional factors that determine if a product is “better” to a buyer than just manufacturing quality. For example, dealer network support and parts support. There are many colors of well built tractors, but only two where I live that have the dealer shop support and parts. It is worth it to me to pay the premium price to buy these products.

Maybe that says more about where you live than the brand itself. That's the price you pay for natural beauty. You make a good point that location can alter our choices.

 

[ovrszd]

The farmers I know may like farming, but dang they complain about it alot

The farmers I know are Eternal Optimists.

 

[Torvy]

He buys and sells real estate assets constantly.

I would say he is in real estate and 'farms' as a hobby. Plenty of farmers who supplement with YouTube, or other side-hustles. That's why I say what do they make from farming alone.

 

[ovrszd]

I would say he is in real estate and 'farms' as a hobby. Plenty of farmers who supplement with YouTube, or other side-hustles. That's why I say what do they make from farming alone.

I know it's hard to know someone only from comments on a forum. Doug is not "in real estate" and he most certainly doesn't "farm as a hobby". To describe what I told you about him as a "side-hustle" is naive on your part. At their peak they planted 25,000 acres per year. This year they were down to 19,000 acres. Hobby......

 

[Torvy]

I know it's hard to know someone only from comments on a forum. Doug is not "in real estate" and he most certainly doesn't "farm as a hobby". To describe what I told you about him as a "side-hustle" is naive on your part. At their peak they planted 25,000 acres per year. This year they were down to 19,000 acres. Hobby......

There are big hobbies and small hobbies. You would have to know whether he was rich simply from farming and then took on RE as a hobby or something else.

Did he inherit a large farming enterprise? Did he leverage inherited wealth into more land? In my experience, real farmers don't have the time for travel and beach houses. I have family with very successful operations, but you would never know it. When they are away from the ranch, it is to haul something somewhere or for family events. They look like every other farmer trying to scratch out a living. For them, a side hustle is helping the neighbors with branding or harvesting crops around the area. They own thousands of acres of ranch land and thousands of head of cattle. They don't sell land, they buy it and put it into production.

The way you described it, your friend is there for planting and harvest. That reads absentee farmer to me. That means someone else is farming his land and he comes by to help out twice a year. Of course, I would need a lot more info to know anything for certain. Bill Gates and Kevin Costner probably think they are successful farmers, too.

 

[ovrszd]

There are big hobbies and small hobbies. You would have to know whether he was rich simply from farming and then took on RE as a hobby or something else.

Did he inherit a large farming enterprise? Did he leverage inherited wealth into more land? In my experience, real farmers don't have the time for travel and beach houses. I have family with very successful operations, but you would never know it. When they are away from the ranch, it is to haul something somewhere or for family events. They look like every other farmer trying to scratch out a living. For them, a side hustle is helping the neighbors with branding or harvesting crops around the area. They own thousands of acres of ranch land and thousands of head of cattle. They don't sell land, they buy it and put it into production.

The way you described it, your friend is there for planting and harvest. That reads absentee farmer to me. That means someone else is farming his land and he comes by to help out twice a year. Of course, I would need a lot more info to know anything for certain. Bill Gates and Kevin Costner probably think they are successful farmers, too.

Again, you are so naive. By your own description in the bold print above.

From your description, your family is several notches below Doug. Not in a bad way. Just in a small way. At some point the assets need to be diversified and invested where they can be protected. Doug is a Master at that. You might see a land transaction in the paper next week where he sold some land. And then you'll see a transaction where he bought some land. He does so based on profitability. He owns approximately 17,000 acres of tillable farm land. I have no idea how many thousands of acres of timber, pasture, hay land.

Your successful operation farming family members would very much enjoy visiting with him. And he with them. Neither would consider the other in a bad light. And certainly wouldn't consider him an absentee farmer.

Edit: Forgot to mention the derogatory "inherit a large farming operation" comment. No he did not. Joined the Marines out of High School, served for three years. Came home and started building his farming enterprise. His Dad often criticized Doug for fear that he was going to go broke. Doug bleeds farming.

 

[Fixastuff]

It's amazing what people "know" about another person they've never met!