I was visiting with a LARGE livestock  player a couple days ago who was concerned about the future of Ranching in America owned by AMERICAN Citizens. He was trying to figure out how to get young people involved in ranch ownership.  We are seeing Canadian "front me n " owned by Chinese buying LARGE tracks of ag land in America.  The problem I see are #1 the young people with the DRIVE can make more money elsewhere without the gamble on weather/markets.  #2 young women are not interested in living the FRUGAL life With the high work requirement of starting a ranch with a young man.   Land costs are HIGH either renting or buying because of the tax breaks that HIGH income people  can use to over bid the "production ag" producer can afford while trying to make a living.
The Rancher age now & the high price calves are keeping ranchers from keeping heifers to rebuild herds after the droughts of the last 4 years. They may keep enough to keep the base at the current number.  But a 65& year old  rancher without children coming back to run the ranch are looking at "it's not a bad market to exit".
The fellow I was visiting with was wondering about maybe offering a "no capital gains tax " for ranches sold to young producers.  I said that the young person still could not afford the ranch @70% of market, but would take the deal , muddle through 5 years, then sell at market price & make 50-100% apperception, & then retires wealthy as a successful rancher.   I would think maybe a Property tax "holiday"  for the land owner for 10-20 years to lease the ranch to a qualified beginning rancher with maybe the cow herd involved.. The problem with this is will the " beginning Rancher"  be someone who takes pride in this opportunity & maintains the ranch, or will they be a "patcher" who runs the fences/ buildings into the dirt so after 20 years all is left is dirt?
Yesterdays "work ethic " is gone from 90-95%