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Glasgow, Ky | This is mainly in reference to grain farmers.
Many farmers are in the upper echelon of net worth in our country. Farming is becoming an occupation that is only for those born into an operation, marry into one or have significant money from an outside source to fund it with.
The number of farm operations is dwindling year to year with bigger operations swallowing up the smaller ones or those of retiring farmers. Small towns and businesses are closing down because there are fewer farmers. Farm related businesses are closing as bigger farmers are cutting out the middleman on inputs.
As far as young people entering farming those that have the liberty to be a part of established operations can eventually achieve a net worth that is the envy of many lawyers, doctors, etc. In grain farming physical work has become a miniscule part of running an operation, especially when you look at it from the perspective of us senior citizens who started out riding tractors that had as much horsepower as a riding lawnmower does these days.
Farmers generally are in better financial shape now than they have ever been. Four dollar corn should just be a minor inconvenience for most unless the previous few years spending has been overboard.
When we look at a majority of working folks in our country we should feel blessed with our financial condition and the fact that we are able to work for ourselves doing a job we love.
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New Perspective on Markets and ag
