cancel
Showing results for 
Search instead for 
Did you mean: 
Senior Contributor

Re: I have thrown in the Towel on Planting/ hobbyfarmer

This is the 1st time in my 25+ years that I have ever filed for PP. The formula is that you only get 60% of your 80% coverage level, which then is based on your yield history. They then use the average corn price as established for the 2013 new crop a few months ago. My crop insurance guy caught me in my car on the freeway in the Twin Cities when he called me back. I couldn't take notes while driving in rush hour traffic, so I am calling him back to review the whole issue. His $346.75/acre number was a rough estimate since he didn't have my proven yield history for all my farms in front of him at the time. But the 60% formula ratio to figure your PP payment is correct.

0 Kudos
Advisor

Re: I have thrown in the Towel on Planting/ hobbyfarmer

So does this mean you will have to send the wife to town to find a job or just scale back the lifestyle a bit.

0 Kudos
Frequent Contributor

Re: I have thrown in the Towel on Planting/ hobbyfarmer

Sounds like that prime northern Iowa dirt isn't nearly as good as you brag about since I will get paid more for PP corn on my southern Iowa clay knobs.  I have 1 farm that isn't planted with a 132 APH.  It will pay $444.  I do have 85% insurance and the extra 10% PP coverage so I will get 70% instead of 60%.  

 

What's the computer say the ROI is in that $15,000 dirt now?

0 Kudos
Veteran Advisor

Re: I have thrown in the Towel on Planting/ hobbyfarmer

Plus will the poor custom guy will only get 60%

0 Kudos
Senior Contributor

Re: I have thrown in the Towel on Planting/ itsmetoo

The $346.75/acre PP claim figure was a rough estimate since he needs to review my per farm proven yields. But you obviously have my attention since you are getting $444/acre. Your 132bu APH is lower than mine, so to ask a dumb question, could you just post the PP formula you are using to get your $444/acre payment??? My claim is well into 6 figures which is a good chunk money. Thanks. 

0 Kudos
Senior Contributor

Re: I have thrown in the Towel on Planting/ k-289

I should pay my Custom guys 60% of there $150/acre fee for doing nothing?? No, I am not that nice of a guy.

0 Kudos
Honored Advisor

Re: I have thrown in the Towel on Planting/ k-289

Why am I not surprised?

0 Kudos
Senior Contributor

Re: I have thrown in the Towel on Planting/ hobbyfarmer

Pretty funny there 425Cat. No, I still have money in the bank from the 2012 crop year excellent profits, Thank God. We just live a middle-class lifestyle!!! Well maybe, a upper middle-class lifestyle, but certainly not a rich lifestyle, my wife still cuts out grocery coupons to buy food. That should tell you how we live. And the only thing I would like to buy is a nice Over/Under 12GA Shotgun to replace my Remington 870 Shotgun I bought when I was a kid for $75 bucks. It was used when I bought it but it has provided alot of pheasants and deer for the dinner table. In northern Iowa you can only use Shotgun Slugs for deer, no 30/06 rifles. Most of our deer hunting shots are 80 yards or less so Shotgun Slugs work ok.

0 Kudos
Veteran Advisor

Re: I have thrown in the Towel on Planting/ k-289

Interesting now its  150

0 Kudos
Senior Contributor

Re: I have thrown in the Towel on Planting/ hobbyfarmer

Hobbyfarmer- my Custom Guys didn't use 1 drop of fuel, no labor, and didn't wear out any of there equipment. I need the money to buy a new 12ga Shotgun!!!!!!!

0 Kudos