Keeping the Farming Dream Alive
It is becoming harder and harder for farms to remain profitable in today`s economy. Almost half of all of the farms operating within the United States report negative income each year. Much of this is attributed to households that operate smaller farms, as they struggle to remain profitable in the midst of a tech-driven society with fancy, expensive equipment helping large farms succeed. Rising costs in livestock, fuel, farm services, and even labor are also making it harder to get the profit they need to operate.
The Labor Numbers
During the year 2016, the typical American farmer spends an average of $16,600 on labor. Only a year later, that average increase of about $1200. If a farm is in the right location, (more…)