|
| I know this is a long shot but wanted to get someone's opinion. I'm farming with my dad and uncle about 1200rc, 100 cows, and a few acres of speciality stuff. We all draw a wage (small) from the farm rest goes back into the partnership for capitol.
They each own about 450 acres of row crop. We do decent on yields 180 corn 50 beans. They are approaching retirement age and don't want to take any risks especially in this environment. My wage is not enough to do much expanding. Both will need to draw close to "market" prices from the land is that is their retirement. I will inherit some of my dads and have first right to rent/buy my uncles ground once it passes to his daughters. With all the need for buying equipment out let alone taking on land payments I feel like I'm fighting an uphill battle. I think both plan to farm for at least five more years.
Any advice from anyone on what to concentrate on or how to structure an arrangement that would be fair to all parties involved? | |
|
Family farm decisions
