Source: SUCCESSFUL FARMING, 7/18/22

More than half of American farmers will reach retirement age in the next 10 years, but the steep price of entry to start a farm, along with rising input costs and volatile markets, make it tough for young and beginning farmers to take their places. “Farming is inherently a risky business, but in the environment we are in right now, that risk is elevated,” Nathan Kauffman, vice president and economist at the Federal Reserve Bank of Kansas City in Omaha, Nebraska, testified at a U.S. House Agriculture Committee hearing Thursday.

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