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Whiskey, Tango, Foxtrot | If I read the numbers correctly, they bought at $76,054/acre. Sold at $74,096/acre. But they leased it out for a three year term @ $3,500/acre. If, and it probably is, the rent is paid up they'll still clear a few thousand/acre.
The strawberry and vegetable production in that area is a completely different world. If they are paying $3,500/acre for rent, can you imagine what the gross is on a crop like that? A lot of it is moving south of the border though. Still the same farmers growing it, but costs are lower, less regulation and a better labor pool there. Being able to treat soil with fumigants in those increasingly urban areas of CA has become a big issue. | |
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California Drought
