Hey Kelly C

Last week I remember you said you saw bale baskets going too high. I replied back that I was dreading a sale Sat (yesterday), had a tract I almost 'had' to buy.

I got it, amazingly enough, farm went in 8-5+ tracts low of $5750 and acre, high of $6500. Got mine at $6000 which is about $6001 too much (so rough a goat would struggle accross it). But it borders my dads place along 1 side and connects to a county road. Told my dad I was thinking of putting up a toll booth for him to use it :-)

How's the hay season progressing in your part of the world?

Regards,
David

The land can't pay for it with farming.

I'm not that old, farm land has been under $900 an acre 2 times, and over $3000 an acre 2 times in my life. Seems the crash should happen soon again....

--->Paul

No way it would ever pencil out. Land here rarely does. Mostly an investment if you buy it (but its that way a lot of places). I only every bought 2 parcels that penciled out; 222 acres for $175,000 in 1987 and 90 acres for $150,000 last year (that I was able to sell the house and lot off for $75K and sell off a 5 acre tract for 25K)

Rent wise it really depends, tobacco ground and pasture is about all that cash rents, most everything else is crop share (50/50). Tobacco ground rents for $300 per acre, pasture anywhere from $5-10 per cow per month, for horses $30-60 per month on wire fence up to $10 a day if you build plank fence.

Our pressure is development. They wrote 3000 new building permits last year in the county and land price still went up 15%. The rest of that farm went to developers. This was my one chance to get access onto that road and keep development from closing up the back of my dad's place with no access except cross country. This was a defensive move for me.

Week before last 17 acres (good and flat, but swampy, class IIw) went for $128,000.

I still have more hay to do than time to do it.
Had to take a weekend off from it. Wife said if I didnt take her and the kids camping I would be haying alone..... So went camping.

I will be hard at it again tomorow. Had a guy call me with 160 acres to do. Yikes!!! dont think so. I said peel me off 20 and I can do.

I think you made a good call on the 160 acres, if its raining there like it is here I dont think I could get 160 acres done before this time next year.

Funny thing, my dad said almost exactly the same thing you did about land. Reminded me if I ever wanted that tract I better get it now. All the other tracts went to development so they are closing in.