golfnut - 1/30/2024 22:57
As a former banker I'll suggest there is no magic number. Less leveraged operations can operate with a lower level of working capital compared to highly leveraged operations. That in itself presents an issue but these conversations have the ability to end up like a cat chasing its tail. I prefer to look at it on a $/acre basis. $200-$300/acre is probably a good starting point.