Where are all of those rich farmers?
Abilene Reporter Herald
The other day I heard a man complaining about “all of these rich farmers.” I wondered where he was from and who he knows that I don’t.
My wife built a nice little cow herd growing up. When we married and moved to West Texas, we thought we would buy some land and get our start in agriculture. Out there you can still buy grazing land for $600 to $700 an acre; cropland is even less. That might sound cheap to a doctor from the city looking for a place to hunt, but a cattleman knows that land at that price won’t “cash flow.” In other words, you can’t pay $600 an acre for land with income from cattle. That being true out west, imagine trying to pay for land in the rest of the state where recreation seekers have driven prices to $2,000 an acre or more.