Ag Transitions, Trends and Ticking Time Bombs

Ag transitions and trends to keep an eye on. 

The global economy continues to experience big picture blows, but will it have an effect on ag planning? Baby Boomers in the ag sector should start watching the following trends:

1. Ag Transitioning. A large percentage of active farmers are between the ages of 60 and 80.  The biggest problem facing the typical rural family (besides Mother Nature and the markets) is deciding who gets the farm.  With fewer kids staying on the farm, and the increase in value of farmland over the past 30 years, farm transitioning has become tricky.     Watch trends over the following year in transitioning methods, taxes, and land prices to provide you with some benchmarks to begin your planning.

2. Fallout from the Bird Flu. Northwest Iowa cleanup is winding up, and it’s become exceedingly apparent that the price of eggs and poultry at the supermarket is rising.  Was the incident a fluke or a targeted event? Either way, the disease will largely affect all farmers to some extent—how great the affect remains to be seen. 

3. Grain Markets. It is hard to talk about ag trends without mentioning the markets.  Enough said.

4. Des Moines Water Works Lawsuit. This case has received much publicity over the past few months.  Unfortunately, it has great potential to wreak havoc on the public’s view of the traditional crop farmer and eventually thrust farmers into political agendas more than ever before. 

5. Syngenta. The wheels are just beginning to turn on this massive action.  Educate yourself before jumping in with both feet. 

Keeping up on these trends will give you the upper hand in beginning to think about your plans for the future.

If you’d like to know more about this blog, or other agricultural matters, please contact one of our Goosmann Law Firm attorneys at info@goosmannlaw.com.