Where Are the Young Farmers?
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Collapse ▲The concept of a family farm still exists but it probably differs from what most would assume. Within Eastern NC, over 86% of farms are owned by families. However, at least within Craven, these farms are either 10-50 acre farms owned by a couple that tend a small vegetable farm with limited livestock or the farm is several thousands of acres of field crop production. In some cases, these larger farms also include cattle or swine production. This is important to note when projecting the future of farming.
Currently, the costs of equipment, labor and production inputs have risen exponentially compared to yield and commodity prices for larger farmers. Many of the crops produced will barely, if at all, provide the producer a cash flow situation. (See NCSU Crop Enterprise Budget for more details). Survival has relied upon utilizing existing equity in equipment or refinancing of owned land previously paid in full. This is not a new circumstance. Farmers periodically have had to rely upon these action over the last few decades. However, the current economic projections show no increase in income and increasing size of the farming operation does not equate to an increase in salary. Production of 1,000 acres of corn will likely result in over $700,000 in production cost and result in a loss of $12,000-$40,000, depending upon yield. Similarly, soybean production of 1000 acres will require $550,000 resulting in a loss of $40,000. This is simply too great a financial risk for most operations. This assumes the farmer owns the land, otherwise an additional $50,000 – $100,00 is added to the loss for payment of land lease for one year. Regrettably, this is also a trend for livestock. The standard beef producer will lose $200 for each cow produced based upon 2025 Enterprise Budget estimates.
Adding to this financial instability is the fact that adverse weather impacts production. Within Eastern NC, we are prone to excessive droughts, heavy rainfall events, and tropical storms. Most federal programs and private insurance is designed to cover shallow losses only. As such, losses up to about 30% may be covered but disastrous conditions resulting in complete loss or crop failure are not paid to farmers. Furthermore, recent changes in policy coverage dictates that collection for some hurricanes only be paid if the named storm is actually at hurricane strength when the damage occurs on the farm. In other words, winds of 73 mph can destroy the crop but no claim is justified since this is 1 mph below a Category 1 Hurricane.
Collectively, these factors negatively impact the desire and ability of younger people to begin farming. Even those that decide to attempt to overcome these negative factors often are prohibited from pursing farming as a career due inability to obtain loans for millions of dollars to begin farming. So, unless a young farmers inherits land, equipment and capital, the number of young farmers will continue to decline.
In contrast, small farms mentioned above, do indeed show profit. However, much of the profit is the result of the owners providing their own labor, limited equipment purchases, and direct sales to consumers. While there is usually a profit, it is small and most will not support a family. In fact, it usually only supports purchase of the farm and farming production. Just as with the larger farmer, increasing in size only increases debt.
Within Craven County, there are approximately 27 farming operations 1000 acres or more. Of these, two are producers between 21-40. In fact, many farmers are 60 years or older. This begs the question as to whom will assume production of these farmlands when these older farmers retire? At the moment, nobody. So, what will become of the land? Only time will tell.