According to statistics provided by the American Farmland Trust, more than 40 percent of U.S. farmland will change hands at least once over the next 10 to 15 years. This means over 150 million acres will transition to new owners. No surprise, at the core of this major transition period is the aging of current landowners.
That data also shows the average age of U.S. farm and ranchland owners is now 60 years and a large amount of that 150 million acres owned by individuals who are over 67 years of age. This is the bottom-line report. American Farmland Trust also says it’s very likely a lot of farmland and ranchland could be owned by absentee owners when all is said and done who have little or no farming experience.
Audio Reporting by Mark Oppold for Southeast AgNet.