Touch the Soil News #2014 (photo – Sheep – (USDA Public Domain )
Australian Food and Agriculture Co. LTD, with the passing of one of its founders, is now available for a new owner. GAI news brings us the story of this 550,000 acre ranch – heavily anchored in sheep – also has crop production in rice, cotton, hay and some grains. For perspective, this ranch would be equivalent to a farm that is 10 miles wide and almost 90 miles long.
From an economic perspective, every time a farm changes hands, the cost basis of the farm goes up. For example, of a farmer bought the land for $1 million, and then sold it for $3 million, the new owner has to get a higher return from the production to cover the higher cost and mortgage. You can read the full story here: https://www.globalaginvesting.com/australian-food-and-agriculture-co-selling-iconic-222000-ha-portfolio/
