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Iowa | We currently farm significantly less than we did 10 years ago but own about a 1/3 more.
2024 will be the first year we rent zero acres since the 70's. We kept looking at our finances and kept coming to the conclusion the rented ground was making us very little in the grand scheme.
So, about 10 years ago we started parting ways with some rented ground/pumped the brakes on machinery purchases/ saved up/payed the taxes/ and purchased a few farms.
No- if we figure opportunity cost on the owned land we aren't making much by farming it ourselves. However, at least that "cash rent" money ends up in our bank account and not someone else's . Plus we still like doing it.
We think it was the right thing to do for us. But, everyone and their unique situations are different.
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Anyone downsize their farm operation? How did it go?
