Farm Profitability: A Free Lesson On How Farmers End Up Losing Money After Working Hard 

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My old grampa joke " what would you do if you won the lottery." Answer: " I dunno jest keep farming until it's all gone"

Honesty, truth and honor is becoming rarer.

Lesson here, ya gotta run your farm as a business. That means a little cost accounting. My grandpa born in 1902 was a farmer. He could take a recycled envelope and pencil this out fast. Time is money. He was a cash on the barrelhead guy. 6th grade education, smart as hell.

Chuckie, knew a corn farmer who did not own a farm or any equipment. He hired his man power ( usually older farmers or ones that needed extra money ) he leased all his equipment. If it broke a service technician fixed it or brought him another one. Hired all his spraying and fertilizer applications done. Reported his crop acreage and yields to the Agricultural Department. When Uncle Sam came out with crop reduction acreage payments he signed all of his leased land up for payment. We are talking 5,000 aceres at 4 tons per acre. Never put a plow in the ground for a few years. Can’t say what his checks were but I heard about 80,000 dollars for doing nothing but paying the land leases.

In the 60's the gooberment was paying people to NOT plant wheat. That included land identified as easement for rail access to packing houses that wouldn't be planted with anything! Ask me how I know. They got very angry when the checks were returned to them (as we knew eventually, they'd figure it out and claim we were cheating them had we kept the money). BTW inefficient business practices is not limited to farming!

Tracking real costs by documenting like you mentioned I think it's important to more specifically document the quantity of materials and time versus just cost. The application of the dollar cost has become almost anecdotal because of wild price fluctuations that are ever-changing. The true cost can be tracked easier over pass of time with having quantities logged, not prices. Love your stuff Stretch and it's crazy how close we are in the opinions you have. Wish you were my neighbor here in rural Georgia but I ain't moving.

Would you consider giving a long term overview/review of your kubota tractor? I'd be interested in knowing how you like it after owning it for several years.

Just saying good dry hay stored dry can be basically stored indefinitely, it will lose in the very low 1 digit percentage of feed value in the first year and then just keep quality.

So, so true about selling things. I've sold some very low priced cars, never again. It is not worth the time to be jerked around by people. I had one guy show up 20 minutes late because he drove by the discount smoke store and just had to stop. Had zero consideration for my time. The last cheap car I sold I used an online car buyer. They sent a tow truck and a check, showed up when they said, and made it go away. You are so right, life it too short to deal with the clowns.

Real good lesson! Hope more will follow. Greetings from the Netherlands

Amen. Lots to absorb in this video. Keep up the great work!

Great conversation! You're a smart guy!

Great advice on New VS Used VS Repairing. Unless you are saving a ton of money on something that can be repaired in a relatively short time, it's usually better to buy new. Of course, there are exceptions, but you need to evaluate if one is really going to save you any time or money over the other. Figure out what you time is worth and use that as a guide.

great video! theres alot of younger kids trying to start farming but they just need some help and advice on how to start and actually make money i think that would make a good video for you to talk about and give advice.

Great video hope more to follow 👍👊

What you said about a UTVs is very true.

Chuckie2009 YOUR NOT A FAILURE...You just added alot of learning experience to your resume. To much buying old tractors = Tons of wasted money and Tons of learning experience. Nothing in life is free. Not even mistakes. Hahaha!!!!

You should have been around when the feds paid farmers millions to NOT plant tobacco. They all took the money and some stayed in farming, others went in the trucking biz or retired and started collecting classic cars. 1.3 million in free money what 1 farmer in Georgia said. That’s politics.

Great TED Talk!

Awesome! Nice lesson.

Chuckie, I could not hire small bale wagon stackers or mow stackers back in the 1980’s for 10 dollars per hour. Quality horse hay 60 lb. Bales for 3 dollars. Horse people are crazy about high protein hay. Good luck with you4 future farming.

farmers are not dumb they know they are barley making it they do it because its a way of life not just a business.

The main problem is people get into a train of thought and it’s hard to get away from what I call target fixation meaning I have to go this because my neighbor does this you don’t have to buy top of the line but what do is figure out how often do I use this and how much am I willing to pay to fix this

Good points in vido. Best investment is A5 notebook and cheapest ballpoint pen. It has signed 5-fig deal. And you can write the pen off as business expense. But about doing things that are unfeasable/uneconomical - sometimes you just have to because replacement options "for exactly now that I need it" are lesser quality and then I justify it with useful working life expected vs how much time it took to fix it and maybe upgrade it and understand why it broke down because repair time is so much shorter than equipment life if used without bashing it and that reminds me to take care of my tools so I don't have to do it again.

Good stuff.! 👌👍✌💛🗽💯

I think this rule applies to all trades nowadays, you gotta be good and fast to make money at whatever you do, some are fast but do shiity work....u gotta know your trade and be good at it to be fast, but like everything practice makes perfect so its often gonna be a struggle in the beginning unless your learning from an allready established family business....if your starting out alone from scratch itll be hard for a while but stick at it and ride the learning curve to the top😜

I know of 2 farming families at the same church with 10+ children

I’m glad to see you back, is there an email I can reach you at? I graduated from Hobart in 2018 and you were instrumental in my “awakening” we would have a lot to talk about. I’ve became very involved since then

Sure they make the small balles as long and dense as possible and then 20$ per hour will probably not attract you a 2nd time unless you are starving ..

Im not a farmer but a tradesman. Great videos though !

Farming is a tough venture especially for the small farm. We started keeping track of worthy ventures on our farm and there are lots of places where we have decided that theres no added value. Simply working hard doesnt always make sense. Work hard at the things that matter and youll be much better off.

Make me wonder about all the money that I've wasted.

Farmers of the 21st century are one of three ways; they're businessmen and successful or they use farming as a means to try and get government handouts so they dont have to work and be businessmen, or theyre hobby farmers who have a different primary source of income an are happy just to break even.

You are forgetting the farmers you are talking about have more time than money. For them it's about survival, 3 years out of some old tires was about staying in business or going out. Farming is a tough, thankless job.

I hope you have kids I had my wife stay home with my kids even though we didn’t have cable or cell phones during those years we did have a house and new cars and we’d take em to the park a lot and the zoo and a vacation once a year and the lake n camping 5 times a year

The old model of working long hours is not feasible anymore and these old styles of working 12 hrs.' are not going to work into days economy. This model of hard work of hours at end of the day to come up with a product came from industrial era and in today’s environment it is a very highly technical economy. Not a lot of physical work is needed but today work requires a tremendous amount of expertise. The smallest mistake for an experienced person will cost you thousands of dollars, ask me how I know...In my area, Hempstead, TX, most farmers have multi-million-dollar companies and farming is a hobby that writes off the main source of income job. You can't compete with these high rollers you just adapt...

People always complain, but what is the the fix , people name problems but have no salotions. If you name a problem you need to name a salotion

Raising chickens is a total waste of time. At one time I had 152 of them...then i sat down and ran the numbers. I put all of them in the freezer. Totally waste of time and money I dont care how many eggs you eat.

Or just drop your TG, sorry I just got to this point in the video

Revelation 13 is coming. The Bible must be fulfilled. You gonna try to stop it?

Keep your head up friend. You are progressing nicely.