Economists at the Ohio State University are challenging the idea that the farm sector is facing a looming demographic crisis, one that could cripple production and destabilize the entire industry.
For the past several years, farm officials and agricultural economists have worried about a potential demographic crisis in rural America. With fewer and fewer young people entering the farm profession, with suburbs and urban centers rapidly overtaking rural communities, and with the average age of US farmers reaching 60, some economists worry that there may not be enough new farmers to replace upcoming agricultural retirements.
Some Midwestern economists, however, are questioning the severity of the demographic trends. According to Carl Zulaf at the Ohio State University, continued farm prosperity will continue to draw young people into the profession as older farmers retire.
These predictions are partly supported by preliminary data from the US Department of Agriculture. USDA figures suggest that, for the first time in decades, the aggregate number of young farmers is increasing.
In part, these increases may be the result of an aggressive campaign by the USDA and various state agriculture departments to recruit young farmers by offering them grants and loans. In part, it may be the result of an overall weak economy, combined with massively high youth unemployment.
Whatever the reason, the data seems to suggest that an unavoidable disaster may not be in the works for rural America.
To learn more about agricultural financing opportunities contact a Farm Plus Financial representative by calling 866-929-5585 or by visiting www.farmloans.com.
Follow us on: Twitter
Written by: Justin Ellison / Farm Plus Staff Writer