Posted by BMAG on November 19, 2013 at 19:32:12 from (108.201.194.214):
I might be digging up old graves here but I would like to talk about the future of farming. First I will start off with my story and how I am getting started in farming. My background in farming is somewhat extensive for someone that did not grow up with parents farming. My grandfather however farmed up until 10 years ago which I helped him during my early childhood. I also worked on various other farms around the area in my early and mid 20's. I am now 30 years old and have decided that its now or never to take over my grandpas 200 acres. I have been reading horror stories about beginning farmers trying to get started, and how they "better have a good bankruptcy lawyer". But on the other hand there are farmers telling me that I am very lucky to have this opportunity and that thousands of people would kill to be in my shoes. Why the mixed feelings from you guys? Trying to get a straight answer is near impossible when your a beginning farmer. You could ask 100 different farmers a question about getting started and a new farmer will get 100 different answers.
So being young and inexperienced on the business side of farming, a guy like me becomes confused. I ask myself daily if I am making the right decision by jumping into this from scratch. I work full time and will continue to work full time while farming on the side. I would be happy if I could just break even every year but have been told that I should be able to do better then that! I bought myself a good tractor, an old drill, and a couple tillage implements. The land is not premium high quality land but I am not paying top dollar cash rent for it either.
I have figured its going to cost about $440 an acre to plant soybeans with rent included. So I am right on the line here as far as crop insurance goes. If I can stay covered at 40 bushels an acre at an $11 market average guaranteed income I should break even on a bad year. This is how I am managing my risk.
It seems like the farmers I talk to in real life are all for what I am getting in to. But on the other hand you internet chair jockey farmers are very negative; so what gives? I have decided to find out for myself no matter the mixed signals I have been getting. I have already got soil tests done and bought my seed for next year so there is no turning back now. The soil tests came back pretty good. I am in pretty decent shape, just need a little lime here and there and some potash here and there. So this is it I am going for it. Win or lose at least I tried right? I am going to try protecting myself with crop insurance by not over spending what I am covered for and if I break even the first three or so years well I could sell my equipment and back out hopefully free of debt. I could see how someone trying to farm full time would be in a lot worse situation then me. But since I am doing it on the side trying to make a couple extra bucks or at least break even it cant be so bad right?
The uncertainties of farming keep some of the BTO's up at night; just think how us beginning farmers feel, we are all really shaking in our boots... What it comes down to is it really should be easier then this, but the reality of it is, one of the toughest things a person could try to do is get started farming from scratch. Its been a rough road for me so far, fixing up old equipment and sponging every second of my free time trying to learn everything I can about this business. It takes a true gambler with a rock hard poker face to do what us young pups are doing. Good luck to all other people out there that are in my shoes.
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