Fewer Fledgling Farmers

National Public Radio (NPR) recently reported on the decrease in young farmers and the financial difficulties facing prospective young farmers when they try to get into the business. For example, despite low interest rates, banks are generally not lending to high-risk first-time farmers without a co-signer. Also, investors are increasingly buying farmland because of high commodity prices, which drives up its price. This often makes land purchases out of reach for young farmers, who resort to renting it. According to the article, between 1997 and 2007 the number of farmers under age 35 decreased by almost 60,000 (approximately 33%), whereas the number of farmers at least 60 years of age increased by almost 150,000 (approximately 19%). NPR’s farmer demographics chart is below.


Changing Farmer Demographics

Source: NPR