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n. Illinois | This process has been going on since the 1930's when the number of farms peak in the US. The article tries to paint a narrative that its the current downturn that created this issue, Spent 43 years dealing with operators just like the one they highlighted. This process is just a part of the normal cycle. Not every farm kid wants to follow in dad's footsteps and they didn't force their kids too. The only thing this down turn is doing is accelerating the decision for folks who were going to make the decision to get out and retire anyway earlier than they would had done if they were making money like they did in 2020 to 2022.
I have seen extremely successful operators who could farm for another 20 years with paid for land paid for equipment solid financials and very profitable decide to stop because they had no one to take their operation over because the kids all got great jobs off the farm.
There however also stories of young people out there with zero family involvement in Ag getting a start in Ag in some very unique ways. It would be nice if the Government made it possible for someone who is retiring to rent to a beginning farmer and have their rents treated as non taxable income for a set number of years. This would encourage folks who are retiring to deal with someone who is young and just looking for a chance to take on some land and work hard. | |
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WSJ article on farmily farms interesting read
