50 bucks an acre is a typical rent for dryland in the western High Plains. That's actually pretty cheap when you consider the going purchase price for such land is over $1500/acre. So why isn't everyone flocking out west to snatch it up?
First, most of the rental ground is locked up in long-term leases by Big Time Operators, who are quick to snatch up what comes on the market. The land you would be able to rent would likely be neglected ground that will need a lot of fertilizer before it will produce decent crops. Then you have the high cost of entry: You're going to need over a thousand acres to make a decent living, so you'll need to purchase fairly big equipment to get started. Now the kicker: It will be a year and a half before you get your first crop; dryland out there needs to be rested ("summer fallowed") every other or every third year. So that means your real cost per crop year is $100/acre on a two-year rotation or $75/acre on a three-year rotation.
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Today's Featured Article - Seeing an Old Friend - by Joe Evans. Dad had a concrete contracting business starting in 1960. One of his first pieces of equipment was a Ferguson TO-35 with a Davis loader. Dad replaced the TO-35 with a MF 202 Workbull, essentially an industrialized Ferguson 35 I am told. Dad bought the 202 new in 1962, and I recall quite clearly going to the dealer with him to sign for it.
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