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    Bloomberg article on Iowa Farming - Interesting

    I imagine this article resonates with many on this board.

    Iowa Farms Minting Millionaires as Rich-Poor Gap Widens - Bloomberg

    interesting times.....



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    Re: Bloomberg article on Iowa Farming - Interesting

    About 15 years ago, My Dad and I bought a 120 acres for $250,000 and recently bought 80 acres for just under $1,000,000. It is crazy right now.

    Lots of risk - we averaged about 50 bushels beans and 185 bu corn this year. Many were not nearly as lucky. Many sold corn for $5/bu and now $7.50/bu and beans at $11/bu and now $15.50/bu. That is huge swing in income. Especially if you got the poor yields.

    We have nothing to complain about here.



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    Re: Bloomberg article on Iowa Farming - Interesting

    It is interesting when they talk about the non-farm industry jobs in the more rural parts of IA. So many towns have the infrustrustre and resources to house production facilities. If someone where able to find a way to utilize the available low cost resources in these areas it would be really great for these comminities.You see so many vacant schools, houses, shops, and facilities. If there were some way to harness that potential that would really change things in IA and the US.


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    Re: Bloomberg article on Iowa Farming - Interesting

    There are people trying to renovate the old high school/middle school in Algona into apartments. Not sure how that is going.



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    Re: Bloomberg article on Iowa Farming - Interesting

    That is an interesting idea. I know from my Grandpa in some places houses are going for well under $20,000. Do those need like massive repairs or somthing? Seems like a rental property would be tough to beat if you could buy for that kind of $$.

    Do the local community banks own a lot fo the vacant propery in these areas? is it private or city owned?


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    Re: Bloomberg article on Iowa Farming - Interesting

    Quote Originally Posted by buf87 View Post
    About 15 years ago, My Dad and I bought a 120 acres for $250,000 and recently bought 80 acres for just under $1,000,000. It is crazy right now.

    Lots of risk - we averaged about 50 bushels beans and 185 bu corn this year. Many were not nearly as lucky. Many sold corn for $5/bu and now $7.50/bu and beans at $11/bu and now $15.50/bu. That is huge swing in income. Especially if you got the poor yields.

    We have nothing to complain about here.
    I would assume that the tremendous income increases for farmers in Iowa would translate into huge increases in support for Iowa State. A lot of the crop and animal research conducted by Iowa State since it's beginning have contributed greatly to the increases in yields and profits enjoyed by the farmers of today.

    Maybe the increases in farm income have directly resulted in large sellout crowds at Jack Trice, increases in Cyclone Club memberships and donations and a sold out Hilton for next season?



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    Re: Bloomberg article on Iowa Farming - Interesting

    So...

    Obligatory "BOWL IN THE SEZ!!!1!1!!!!!1!" post



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    Re: Bloomberg article on Iowa Farming - Interesting

    Quote Originally Posted by aauummm View Post
    I would assume that the tremendous income increases for farmers in Iowa would translate into huge increases in support for Iowa State. A lot of the crop and animal research conducted by Iowa State since it's beginning have contributed greatly to the increases in yields and profits enjoyed by the farmers of today.

    Maybe the increases in farm income have directly resulted in large sellout crowds at Jack Trice, increases in Cyclone Club memberships and donations and a sold out Hilton for next season?

    It definitely hasn't hurt. I know several farmers that have gotten season tickets recently for the first time because it's the first time in their farming career where they actually have some disposable income to spend on something like that.



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    Re: Bloomberg article on Iowa Farming - Interesting

    Quote Originally Posted by aauummm View Post
    I would assume that the tremendous income increases for farmers in Iowa would translate into huge increases in support for Iowa State. A lot of the crop and animal research conducted by Iowa State since it's beginning have contributed greatly to the increases in yields and profits enjoyed by the farmers of today.

    Maybe the increases in farm income have directly resulted in large sellout crowds at Jack Trice, increases in Cyclone Club memberships and donations and a sold out Hilton for next season?
    Unfortunately not all farmers are Cyclone fans. Also, farmers work hard for their money, just like everybody else, but I think most hang on to it and keep it for a rainy day or bad year.



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    Re: Bloomberg article on Iowa Farming - Interesting

    Quote Originally Posted by isufan View Post
    It definitely hasn't hurt. I know several farmers that have gotten season tickets recently for the first time because it's the first time in their farming career where they actually have some disposable income to spend on something like that.
    That's great news! The hoks have their doctors, dentists and lawyers to support them, Texas, Oklahoma, and Kansas have their oil money and we have traditionally been left pretty poor. Maybe the wheel is turning just a bit!



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    Re: Bloomberg article on Iowa Farming - Interesting

    As many say, usually in reference to football or basketball - when things are going bad, they are not as bad as it seems, and when things are going great, they are not as good as it seems.

    No problem with farmers getting what the markets are giving them now. Thing is, at some point it will turn, and I hope most are prepared and can weather it.


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  12. #12
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    Re: Bloomberg article on Iowa Farming - Interesting

    the point of the article is that the wealthy farmers are just taking their $$$$$ and buying more land. its not going into the ISU AD dept that's for sure.



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    Re: Bloomberg article on Iowa Farming - Interesting

    Quote Originally Posted by brokenloginagain View Post
    the point of the article is that the wealthy farmers are just taking their $$$$$ and buying more land. its not going into the ISU AD dept that's for sure.
    We can hope that some of them discover oil on that land!



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    Re: Bloomberg article on Iowa Farming - Interesting

    Quote Originally Posted by brokenloginagain View Post
    the point of the article is that the wealthy farmers are just taking their $$$$$ and buying more land. its not going into the ISU AD dept that's for sure.
    I disagree. I have increased my contribution in each of the last 3 years to Iowa State.



  15. #15
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    Re: Bloomberg article on Iowa Farming - Interesting

    Quote Originally Posted by brokenloginagain View Post
    the point of the article is that the wealthy farmers are just taking their $$$$$ and buying more land. its not going into the ISU AD dept that's for sure.
    I thought it was, hey, I'm educated and had a good job and lost it and was unemployed for a while but am employed now but not liking my new job like my old one, and I see farmers all around me making it big and it is not fair (for some reason).


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