Next-Generation Dairy Producers
Nearly 300 million acres of U.S. farmland are expected to change hands in the next 20 years. Beyond the transfer of land, and the often-complex succession planning process, investing in the next generation involves the transfer of skills and knowledge. Now’s the time to cultivate multigenerational success through asset, resource and financial stewardship.
Gen Z’s challenges aren’t just academic; they’re personal, says Jill Bramble, president and CEO of 4-H. Many young people say they are falling short, unable to envision a successful future where they feel connected to their friends, families, and communities.
Travel to Carpenter, Wy., and you’ll see two-thirds of the state’s 9,000 dairy cows, who are milked at Burnett Dairy. You’ll also get to see an upcoming second-generation dairy farmer, Reese Burnett.
The 2024 MILK Business Conference award winners have been revealed, and they are set to be honored at the prestigious event on December 10-11 at Caesar’s Palace in Las Vegas.
Dairy transition planning, or the process of preparing and transferring a dairy farm to a future generation is a process wrought with raw emotions and potential pitfalls.
Gen Z has made their way into the dairy workforce, both on the farm and out in the field.
Today the formula pf passing on the farm requires robust conversation and strategic planning to financially integrate another family member into the business.
Matt Gunderson, vice president of Farmers National Company, says having these advisers will give your plan the sturdiest foundation.
Let’s continue to applaud all the kids who participate in 4-H and FFA and exhibit at the county fair. The lessons they learn are difficult to duplicate anywhere else and the memories will be cherished for a lifetime.
Not everyone knows their life calling from an early age. Not everyone knows that they want to do what dad does for a living. Many have to go through trial and error to figure it all out.
Two young dairy producers from opposite corners of the U.S. share what excites them the most about the future of the industry, what keeps them up at night and what tools and technologies they are leaning into to help propel their dairy operations forward.
Money management is demonstrated from one generation to the next. Open and ongoing communication about the farm’s financial blueprint can help the younger generation to develop a better understanding.
Many avoid planning because discussions can be stressful and emotional. Yet, the sooner conversations and plans start, the smoother the transition can be.
Communication between one generation to another can seem like talking a different language. “I suggest you approach looking at another generation with curiosity rather than judgment,” says Kim Lear of Inlay Insights.
The good news is there are legal devices to do whatever a farmer wants to do. The key is using the right mechanisms for the relationship piece.
Stephanie Nash is loud and boisterous…or as she likes to call it, very passionate about the dairy industry, as she enjoys servings as a front-line advocator to connect with consumers about where their food comes from.
There’s a serious lack of communication between generations, and procrastination and conflict avoidance are killing agriculture, says Elaine Froese, a farm family transition expert.
Becky Nyman of Hilmar, Calif., recently visited with AgriTalk host, Chip Flory, about being the next generation dairy farmer. Nyman works alongside her brother on the home farm where they milk 1,200 Jerseys.
When raised by farmers, our earliest lessons in leadership, stewardship and life in general occur with the rhythms of the seasons. It turns out, even in a season of loss the learning continues.
“If handled improperly, transition events can be the death of your business. Or it can strengthen your business and clearly outline who you are and where you want to go,” says Dick Wittman.
How are you showing up on the farm? Do your actions meet up with your goals? Rena Striegel, a farm succession planning consultant, encourages the next generation of on-farm leaders to do some self-reflection.
While many in the agricultural sector wonder who will make up the next generation of farmers, another legitimate question is who will make up the next generation of industry professionals.
Formulating your farm’s succession plan is likely not a straight line. Polly Dobbs, an Indiana attorney who is part of a seven-generation farm family, says it’s important to stay focused on your end goals.
The clock is ticking — and the current estate-tax exemption is set to plummet at the end of 2025. The smaller exemption coupled with inflation and land values likely means increased assets and estate-tax rates.
Know what it takes to become a high-level leader.
We asked previous awardees of the Top Producer Next Gen Award to reflect on lessons they’ve experienced in business and management.
Anyone who wants a say in how business assets are handled after they pass on should have some sort of transition plan in place. If not done correctly, then the outcome might be settled at a farm auction.
When the four Hansen brothers came back to the small family dairy farm in Hudson, Iowa, which had operated since 1864, things needed to expand. Hansen’s Dairy has since taken ‘side hustle’ to a whole new level.
Thirty years ago, I received my high school diploma. As my daughter, Cassie, recently walked across the stage to receive her high school diploma over the weekend, I thought about the advice I had to offer her.
Our herdsman, Julio’s attention to detail and good eye for cattle allows us to put attention into strategically planning the several expansion projects that we’ve taken on over the last 18 years.
Hesston Geddes admits the opportunity to live and work in Hawaii’s lush tropical backdrop enticed him to travel to Waipahu, to take on the manager role at Cloverleaf Dairy, the last commercial dairy in Hawaii.