Roseville native, Mike Downey from Farm Financial Strategies and Next Generation Ag Advocates spoke at the Warren-Henderson Farm Bureau regarding the succession of farms to the next generation. Statistics he pointed out include projections that 70% of family farms will change hands over the next 15 years.
“The transition out there in the industry, what effect that’s having on what the look of the field of a family farm looks like, production agriculture as we continue to see consolidation. Certainly the need is out there when we look out the next 15 years. It’s estimated that 70 percent of family farms will change hands in one form or the other, so just having this discussion, so folks know there are options. ”
Downey says for every farmer under the age of 35, there are 6 over the age of 65 and over one-half of farmers do not have a successor and 68% do not have children who farm.
