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Southeast | 1000% this.
Understand the correct value of the product using all the inputs.
This includes the real value of the land, value of maintaining the land, amendments added to the soil, the quality of the soil/grasses, cost of production (equipment, labor, etc...) and actual resale value of the product.
Another big input is how invested you are in the land and how much you need what is produced off of it. Since the OP is buying back or acquiring what is produced, I would establish a price on each unit produced (based on the inputs you listed) and simply buy the bales produced. Doing it this way protects both of you since the volume produced will vary every cut.
Usually 50/50 is a win/lose relationship for one side or the other. | |
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Grass hay field rental?
