who owns the land, page-7

The saving grace though boomer may be that the land was previously valued for its gross margin potential growing pasture fed beef. And as you correctly point out TIM and others bid up land values. Today it will be valued for its potential for either dairy but more likely annual grain production (like you say that will require investment). Now canola is worth money the game has changed though for the high rainfall areas. Could well be a silver lining in this. Only have to look into the Kojunup shire. It was dominated by canola plantings last year ... and land is still cheap there relative to the irrational prices being paid up here in the north. Still holding over $2000/acre round these parts (New Norcia). Peaked at $2700/acre ...

I don't think farmers need to get bigger to survive. Those days are long gone now credit will tighten significantly into the future ... at the end of the day it is handy to be able to allocate capital to generate the greatest return even if that means shifting it off farm to work for you. When you're up to eyeballs in land based or machinery based debt this is virtually impossible to swing.

Good luck for the season ...