Younger Americans may have a better chance to break ground on a career in farming if they had access to expanded crop insurance to minimize their financial risk. And their ability to start a commitment to farming could also benefit from reliable access to a lender.
One is an initiative in one state, and the other would extend assistance on the federal level.
KTTC-TV in Rochester, Minnesota, profiled Matt Kruger, 34, who is 23 years younger than the state’s average farmer. He bought an 80-acre farm in Pine Island, aided by the state’s Beginning Farmer Loan Program. The program can help new farmers secure a loan of up to $500,000.
Minnesota Governor Tim Walz, who is now also the Democratic vice-presidential nominee, highlighted the Beginning Farmer Loan Program. Meanwhile, U.S. Senator Jon Ossoff, a Republican from Georgia, wants Congress to pass the federal Crop Insurance for Future Farmers Act of 2023 (yes, it is 2024. But Congress works at its own pace).
One of the provisions of the bill would be to extend farmers’ eligibility for subsidized insurance through the Federal Crop Insurance Corporation (FCIC). Instead of eligibility lasting for the first five years of operating a farm or ranch, it would double to the first 10 years.
The focus on these two concepts comes at a time where the industry looks at its aging farmland owners and questions where future generations will be able to take over.
The most recent report from the USDA that tracks young producers (farmers under the age of 35) shows an increase in the percentage of farmers nationally in that group from 2017-2022. Those five years saw an increase of 3.9%.
That is a much different scenario compared with middle-aged producers (aged 35-64), who saw a drop over those five years of 9%.
RELATED: Students, including some future farmers, from Morningside University’s Applied Agriculture and Food Studies program donated food from their on-campus garden to a Siouxland area food bank.
The increase for younger producers is welcome to the future of the industry. However, the increase in producers above the age of 65 dwarfed the other age groups.
“Senior” farmers saw their numbers grow by 12.1% over the period, underscoring the importance of attracting younger farmers to the industry.
Overall, about one in eleven farmers in the United States is younger than 35. But 64% of those younger farmers have a primary occupation other than farming, according to the USDA.
The USDA reports that Pennsylvania, Indiana, and North Dakota are the three states with the highest percentage of young producers.
RELATED: Kate Stephens, 20, is a farmer, college student, and entrepreneur in rural Great Falls, Montana. She wants to encourage more young people, particularly women, to enter farming, and she created a YouTube channel to share the struggles and successes of family farming. American Farmland Owner featured a conversation with Stephens as she finished work for the night on the combine.
