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Jim_Kennedy

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Throw Some Seeds In That Divot Hole
« on: December 31, 2011, 12:18:59 PM »
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Rick Shefchik

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Re: Throw Some Seeds In That Divot Hole
« Reply #1 on: December 31, 2011, 01:13:31 PM »
Interesting -- and, for golf, troubling -- story. A lot of unprofitable golf courses were staying open because there wasn't any demand for the land. Housing developers were doing worse than golf course operators. Now that farming is becoming so profitable, it could dramatically speed up the elimination of marginal golf courses.
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Jim_Kennedy

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Re: Throw Some Seeds In That Divot Hole
« Reply #2 on: December 31, 2011, 01:27:14 PM »
Rick,
Housing developers are also selling their holdings as farmland.
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Ronald Montesano

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Re: Throw Some Seeds In That Divot Hole
« Reply #3 on: December 31, 2011, 02:01:43 PM »
Is farmland profitable everywhere?

How many golf courses are too many?
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Jim_Kennedy

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Re: Throw Some Seeds In That Divot Hole
« Reply #4 on: December 31, 2011, 03:15:57 PM »
Ron,
The yield for corn in 2009 was 134 bushels per acre in NY, 111 bpa in SC, and 180 bpa in Iowa, so it's probably more expensive to buy, but more profitable to use, in Iowa.

'Too many' depends on location and population. Quite a few years ago I read an article on Myrtle Beach that said the area drew 4 mil. golfers per year (I forget the total number of rounds) and the existing courses were thriving. Somethng like 20 or 25 more courses were built after that, but the area never broke the 4mil. golfer threshold. I'm sure there were many owners/operators who thought there were too many courses in Myrtle.
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BCrosby

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Re: Throw Some Seeds In That Divot Hole
« Reply #5 on: December 31, 2011, 05:18:15 PM »
180 bpa is an amazing number. Multiply by 200 acres, that's a lot of rounds per annum needed to justify the premium on land that can generate such high yields.

Bob   
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Jim_Kennedy

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Re: Throw Some Seeds In That Divot Hole
« Reply #6 on: December 31, 2011, 06:15:55 PM »
Quote from: BCrosby on December 31, 2011, 05:18:15 PM
180 bpa is an amazing number. Multiply by 200 acres, that's a lot of rounds per annum needed to justify the premium on land that can generate such high yields.

Bob  

There were lower and higher yielding years, but 2009 looked to be a good one. Here's a breakdown of some of the costs, irrespective of the price of land.
  
http://www.agecon.purdue.edu/extension/pubs/id166_2011_Nov_01_2010.pdf
« Last Edit: December 31, 2011, 06:32:33 PM by Jim_Kennedy »
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Michael Hayes

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Re: Throw Some Seeds In That Divot Hole
« Reply #7 on: December 31, 2011, 06:36:47 PM »
$7 Billion in crop insurance paid out in 2011 in addition to the Billions in subsidies make farming a good business, if you have 25,000+acres. Family farmers are still struggling.
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