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Friday 30 March 2018

OFI 429: What Farmers & Ranchers Have In Common With Musicians, Actors & Baseball Players

Source: www.offincome.com --- Thursday, March 29, 2018
SHOW NOTES KEY IDEAS: Hi everybody. This episode is intended to applaud farmers and to demonstrate that those of us that want to make our livings from the land and live this lifestyle are as dedicated to our way of life as anyone in the United States. This dawned on me a while back, but the only other career subset I can think of that do what farmers and ranchers do are celebrities. Stick with me for a second on this. Depending on the year 80-90% of farmers in the United States are relying on some form of income from off the farm to support their households. When we go through low milk, low beef or low commodity prices you will see off farm income account for over 90% of all household income. The dream is to farm or ranch and to do nothing but farm or ranch. But the reality is that most folks in the United States are working at least two jobs to make this happen. The cost of medical insurance and the volatility in input and commodity prices forces us to do this if we want to stay in this profession. I spoke with a professor at Texas A&M a while back, and she told me that in the great State of Texas they are having a very difficult time getting young people to return to the farm and don’t even think about getting non-farm kids to choose farming or ranching as a career. Why? Well, the young people who grew up on farms or ranches see better options elsewhere. They can go to the oil fields and make $60,000-$80,000 of guaranteed mone ...



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