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Alton, Ia | You certainly have enough acres to justify owning both, "here" anyway. But should you? Equipment is getting more technical, people are testing multi-hybrid, variable rate planters. Narrow row, twin rows, etc. One guy told me in 10 years planters will cost $300K and it will all be hired out. The bushel benefits will greatly outweigh the custom cost, so basically you'll be forced into it. I think he's full of it, and hope he's wrong, but who knows. Working with someone spreads your cost out and lets you keep up if technology does have paybacks.
Plus, good help is always hard to find and keep. Do you have it available? How will you get done then what your are doing now while he is planting?
IMO, I would talk to him about your desire to be more invested. Maybe you can own the planter together, maybe you can own something else, make it more of a joint venture than custom work. This all depends on how well you and he work together, and if you have similar goal and outlooks for farming. Maybe he's been thinking of buying a sprayer or such, you can buy it and trade off, etc.
Penciling out the buy vs hire decision is easy, building a good relationship takes the work. | |
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How many acres
