March 2024 – Page 3 – Jacobson Farm

“People who use time wisely spend it on activities that advance their overall purpose in life.” ~ John C. Maxwell

“One person with commitment accomplishes more than a thousand with an opinion.” ~ Margaret Mead

Where Have All the
Family Farms Gone?
By Kit Pharo

New census data released by the USDA in February provides reason for concern. The number of farms operating in the US and the number of farm acres have both fallen significantly. There were 141,733 fewer farms in 2022 than in 2017. The number of farm acres was reduced by a whopping 20 million acres in the same five-year period. This is very disturbing!

Also disturbing is the fact that the average age of farmers and ranchers continues to increase. Being a farmer and/or a rancher provides a great way of life, but in order for it to be sustainable (passed on to the next generation) it must be both profitable and enjoyable. Younger generations are finding ways to make a lot more money with a lot less labor. Can you blame them?

Closer to home… the number of beef cow operations has declined a whopping 31% in the last 25 years – with the biggest decline taking place in the last five-years. Nearly all of the decline has been that of smaller producers. While all of the so-called “experts” offer many reasons for this decline, I can sum it up with just one reason – lack of profit! It doesn’t have to be this way!

I am sorely afraid we will experience a monumental fallout in family farms and ranches when cattle prices fall from these record-high levels. Please read the “Will You Survive the Fall” article in our Spring 2024 Newsletter. The time to make the necessary changes in your operation is NOW, while we have record-high cattle prices. Making those changes after cattle prices fall will be extremely difficult because survival will take precedence over all else.