13th Congress Proceedings
How Will New Farmers Control Farmland
The U.S. will soon see many farmers retire and younger farmers taking their place. These younger farmers would prefer to purchase the land rather than rent because of the advantages associated with ownership. However, these farmers need to determine how many acres they need to rent in order to support their purchased land and still provide funds for family living. The model developed here is applied to a typical farm in the Midwest. The results indicate that cash rent is a key element of the model.