Farming New Ground! How Much Money Will We Make or Lose?
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- Опубліковано 27 тра 2024
- I am happy to announce that I have found more farm land to rent! Today I am going to be taking soil samples and going through the numbers. I go over estimated Income and Expenses. These are all just state averages and current pricing, so take all this info with a grain of salt. Let me know what you would change or add to this farming equation. Thank you all for watching!
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Congratulations on renting land we need more young farmers thanks for sharing
Great to see and your wife farming together
find some more ground to rent and start feeding your bull calves out. Locally grown freezer beef and pork has become very popular in my area. It would beat 4-dollar corn for profit. Probably a lot of old dairy facilities sitting unused in your area to rent for a decent price too feed them in.
Congratulations it is exciting to branch and grow a farm at the same time as you grow a family. Love to see the partnership. I think your numbers are pretty close. If it was corn on corn I would consider a rotation if you can. Maybe to a legume? I guess the soil tests could decide that.
It's a great move you are going in with your eyes wide open. My dad use to say there are two people in this world that hold a lot of faith the good Lord and the American farmer. You will do awesome can't wait for more on your journey
You’re doing your homework on this project, I would wish you the best success possible 👍. “Nothing ventured nothing gained “,it’s wonderful to see a young couple having a go at farming. Regards from Down Under.
Congratulations, Aaron. Good luck on your new ground this year!
One can not learn to swim on the side of the pool. One has to get wet. You are now an entrepreneur.
Thank you for sharing the financial (profit/loss and risk) side to farming. Honestly, would be a wake up call to youngsters to apply themselves much harder in school, just to have a solid backup plan. With all your knowledge, connections and work ethic, success is definitely in your favor. Best
thank you. that was fantastic. i maintain ....the future somehow has to be value add to your milk. start small. get your brothers involved. cottage cheese, artisan cheese, ice cream, gelato. i can see a small shop on UW campus. killin it. spin it.. 100% Wisconsin.
Dog has to love that. Going to a new field. That is nice soil, dirt.
I remember plowing a pasture in clay. Very hard pulling , you could feel the alfalfa roots on the plow.
Very nice video.
Congratulations on the new grounds, wish you a bountiful harvest. Maybe someday you can aquire this land, especially if it boundaries to your family farm. Nice to see the wiffie, my very best to you both.
Congratulations and it's nice you brought along your partner and boss.
What shocked me the most was the cost of renting per acre. When I was a kid back in the 50s, we were paying 1.00 $ per acre to rent.
Rent in my area goes as high as $220/acrre. Not much left for profit.
40 bucks was the norm here 10 years ago...now it's double
Good luck with your new land. Can't wait to see how you handle it.
There is more to farming than throwing seed in the ground. You nailed it with that phrase. Thank you for sharing how much it costs to run a dairy. Most city dwellers dont see the expenses involved.
Good luck with the new ground, hope you have bountiful harvest.
Sounds like you and Darby have a sound plan I'm very excited to watch you 2 prosper
How far away is this new piece of rented ground from the home farm?
200 in north Carolina where I live that is for crop and pasture
Congratulations on the new ground. Thanks for a very informative video. Hope the corn prices work in your favor.
Congratulations!! You have to start somewhere.
Hope the corn is the starting point using for making a value added product. Best of luck.
Thank you for an informative video, that I found interesting.
God bless you n Darby and rest of your family ☺️👍🐄🚜
Excited for you. Looking forward to all the videos from field prep / planting to harvest. Has your farm ever rotated in a crop of soybeans? Thanks for sharing.
Costs about £75 per acre to rent here in the UK. Land is about £10000 per acre to buy. Hope all goes well for you. All the best 🇬🇧.
Good luck with this enterprise. Thanks for the analysis. Looks like you are approaching this smartly.
Nicely done! I hope that the high variable risk that this analysis reveals gives the non-agrarian pause the next time they want to accuse farmers of being wealthy.
Just thought on drying the corn build a corn crib let it air dry then when ready to sell it she'll it using a combine . Not saying it's a great idea but cuts cost of drying with gas
I ENJOYED WATCHING THE VIDEO AARON 😊
Now that you have all of the pre plant numbers on paper, keep very accurate numbers of your post plant numbers, and of coarse that does not include your time doing the corn farming, Good Luck
Hope the soil samples come back ok
All the best on your new land 👍
In NW Indiana it's 300 to 350 an acre 400 to 450 an irrigation acre.
Congratulations. Hope it works out.
Great start with the excel spreadsheet. It will take 2 to 3 years comparing actual to estimates before you get a good grasp on this venture. The actual pricing in your area as compared to the UW averages will give you more accuracy when estimating future years.
Very interesting vlog.
Nice interesting video Aaron.
I farm in northern lower Michigan . I,m in my 60tys last year (2023 ) my cost per acre for corn was $625 an acre as for drying in my area it 6cents per point per bushel anything over15 percent moisture ( harvest moisture is 20 percent it will cost you 30 cents a bushel for drying) .I hope this helps you . Good this up coming year .
like most farmers we leave out factoring in labor costs. even out own. hoping the margin is enough. In eastern iowa you can't hardly find ground to rent for less than 350.00/ACRE Kudos to you and your family for the operation you run. I admire you all.
Seems a reasonable estimate. My belief has always been the diversity converts farm products into higher value and staying away from bank loans long term.
Corn prices are based on moisture content also! Farming is a gamble!
I think your doing a great thing keep it up and the best of luck 👍
I'm only 2 minutes into the video and you're banging the tip of your probe on the bucket!!!???
I pulled soil samples for about 12 years and messing the tip up is a big no no!
That being said I wish you well on your little patch, looks like decent soil also
Congratulations!
Feed the corn to calves. Store in bags. No. Drying costs You have got calves.
Veal. , sell. Baby beef
The good news is that you have an awesome family and wife . Im sure you'll clean everything up really good . Dad will be along for the ride and will help work something out with machiery . You have a buddy with a combine . You've thought it all out . Win for everyone.. N.Illinois areas 250 -400 per acre cash rent crazy
spot on
Good job💪
The average rent in Maryland is 103.00/ acre.
Wow land rents there is expensive. The last year I leased out some land the rent didn’t even cover the taxes on the land
Great Job!! Mike Layman, BS, Ag Econ, Ohio State University, 1972
appreciate young farmers and families. I'm 66 and find it hard to see optometrist view renting 10 a. hope It turns out great.
excellent!!
Enjoy all you videos
You will be on the plus side.
what if someone could grow corn without seed, fertilizer, or chemicals? Imagine the savings! Look into heirloom seeds (buy once and use many times) strip till or no till with cover crops. Rick Clark videos and Jon Maple Grove Farms videos have a lot of great options to consider. It takes just as much effort to study chemicals as it does to study cover cropping.
Great Video! If you are up for it, it would be fun to see a follow up video at the end of the year, with how the numbers actually played out.
Cost me about 950 dollars an acre last year. 200 bushel an acre. In the spring I could market $5.25 average. No rain for the majority of the spring. Made me nervous to contract so I held off. One stupid rain cloud comes by and the price went to $4.85 do you see the red yet?
Is there any outfit around you that can do grid samples and variable rate fertilizer application? That can pay you back in the first year in savings alone. Especially if the applicator can put both P & K down in 1 pass. Good luck, I hope y'all have a great season, and corn goes back up to the $5+ price.
It would be interesting to factor in to your analysis the number of hours of labor expended and your potential income per hour.
$145.00 acre here Western Wisconsin
200-300+ here in southern pa
Darby, did you attend UW Lacrosse ? Your sweatshirt !
Im here to look at the bucks on the wall 😅
What ever happened to the Oliver 1650 with antifreeze in the oil ??? Very good channel I always enjoy watching !!! 👍👍🙏
Awesomeness guys hey you gonna use your planter ??
Yes we are
It's cool that ya are renting the ground....it will be interesting if in the future ya buy it and add to farms ground Total
Could you just use urea nitrogen in your spring broad cast and skip side dress.
Good luck
Are you going to keep it corn on corn or go into rotation . Great video
Would you consider insurance for that land, and if so, what would the insurance cost for that 10 acre piece of land?
Around a $100 a acre
Have you ever thought about finishing out your bull calves with the price of cattle now
Everything works great on paper. Found this out the hard way
you are pretty close with your numbers. my son figures 600 dollars per acre for corn.
Two things farmers never price in is their labor and opportunity cost on the capital invested.
Hopefully your dad will charge fuel and iron cost, which will help a bunch. 10 acres shouldn't kill him to give you a break.
Here it's free-40$ a acre.
Being it’s only ten acres, have you thought of crop insurance on your corn?
No guts no glory have a go but the numbers have to be right good luck
Are you planning on crop insurance?
Ok! So you rent this land?IF you by this land! What well be the price then?.
But good and Nice you took The chance and by or rent this of land.
It's expensive in sweden to by/rent land!
If the land is purchased, must also include property taxes (not sure how much it is there). Plus by renting, perhaps with the option of buying, it would be easier to see if it does well. But it is an idea. Not sure how something like this would be handled on income taxes. Whether they would be able to take the whole cost at once as an expense or how any business costs would be calculated. Hello from Michigan. My Farther-in-law's family was from there. They came over here and worked in the mines in the UP.
You forget about crop insurance
Looks like a lot of deer damage up there
crop insurance?
I was watching your video I live in northern Indiana I rent out 56 Acres and I get 300 bucks an acre
Dont forget your overhead you might think there is no overhead but there is more than you think keep it high protect your self, another is labor you already have some labor building up. Equipment are you renting, bying, and or useing your dad , what if it breakes down who has the fat wallet like a bad tire that needs to be replaced.
❤❤❤ HOW FAR AWAY IS THIS FARM ????😊😊😊
First 😮
My neighbor farms around 3000 acres, the field by me this year, they hauled in chicken manure, it will be corn this yr.
❤😊RU GOING TO PLOW IN THE CORN 🌽 STALKS ???😊❤
Congratulations get job explaining everything will you ever grow soybeans
🚜👍🚜👍🚜👍🚜👍🚜
I farmed all my life you would be better off to put your money in a cd
I recently just did that. Sold a couple rental properties, put the money in cd’s. Avoid property taxes, insurance, wear and tear on the houses (and me), repair costs, tenants not paying.
around me in wisconsin in sand ground a lot of farmers are dropping the land cause they cant make a profit on $4.00 a bushel corn. in the sand ground here in central wisconsin $30 to $40 bucks a acre. you can get $200 a acre if you put in irrigation for the vegetable growers. on a normal year around here on dry ground a good average is 90 bushel to the acre. thats why so many farmers are dropping land around here cant make enough to cover your costs. there talking around here of $3.00 to #3,25 a bushel by fall. dont know for sure? its hard to keep going when a farmer has NO say in the pay they will receive.
Are you going to be close enough to spread some poo on that ground?
Thanks for taking the time to make this id love to do the same someday soon