USDA census numbers indicate the number of farmers over the age of 65 is quickly outpacing younger farmers, meaning the future of many farms are in question. Almost 1.3 million farmers are now at or beyond retirement age, while just 300,000 farmers are under the age of 35, according to the American Farm Bureau. In many cases, younger farmers may look to expand their operations as older farmers are retiring, with the hope that expansion will increase profitability.
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Avoid growth management traps during expansion
With many of America’s farmers over the age of 65, that farmland may be leased or sold to other farmers interested in expanding.
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