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Agricultural News

Farm Credit's Todd Van Hoose Says They will Continue to Help Beginning Farmers

Tue, 24 May 2022 11:30:05 CDT

Farm Credit's Todd Van Hoose Says They will Continue to Help Beginning Farmers With High Input costs, too much rain in some areas, and not enough in others, ag Producers are looking for a silver lining. Farm Credit President and CEO Todd Van Hoose is trying to offer a few of those options. Van Hoose says the good news is that farmers are the most technologically sophisticated they've ever been, and the management skills out there for American agriculture have never been higher. "With all the volatility, interest rates, prices and inputs and markets, You've never had to be as qualified as today to be a farmer."

Van Hoose said one of the groups they are trying to help is beginning farmers, "It surprises most people to see that we continue to find new beginning farmers to get into this business year over year." Last year Van Hoose said Farm Credit made 97,000 loans to people with less than ten years of experience for about $26 billion, "So we continue to see a demand to get into the industry, maybe not the same kind of demand that we used to see where it typically was somebody's following on mom and dad's farm and intergenerational transfer. We're seeing a lot of different types of operators out there."

With the average age of the American farmer growing, the need for a new generation to take over is high. Van Hoose says The good news is That land values are very strong, but that's also the bad news. "If you've got some right now, it's a wonderful thing. But if you're trying to get some, it's a real barrier to entry. And so you know, balancing that; The interest of one generation versus another is tough."

Van Hoose said right now; it's important that farmers be smarter than they've ever been. "I tell people in Washington all the time who have no interest and no real understanding of modern agriculture, just how technologically sophisticated today's farm managers are. Imagine balancing all of the commodity markets with all the input supplies and your interest rates in the national economy. And now disruptions from all the global events going on out there if you've never had, this is a time when you've got to be really, really on your game."

Van Hoose said Farm Credit is constantly in Washington to remind lawmakers of the importance of Agriculture, "My view is Washington's average picture of agriculture is about 70 years old. They have no idea what's happened, and the evolution has happened in agriculture." He says they constantly tell people about environmentally friendly practices that farmers are already doing. Van Hoose said they remind Washington that United States agriculture is the backbone of our economy and is a great advantage for this country. "Farmers produce more here with less than anywhere in the world. If we're not careful In Washington, if we change policies, What's going to happen is we're going to push production overseas where it's actually done less environmentally friendly. And so we're trying to tell a real story behind agriculture in this country."

To hear the complete conversation with Van Hoose, and KC Sheperd, click or tap below



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