Hay Farmers getting out of farming

[Citydude]

Sheep ranching is baaaad.


(sorry)

Yep. My Grandfather raised sheep for 40 years. I helped at shearing time stomping wool. Fun times.

 

[sree251]

Plenty of information on the size of farms in the U.S. in both acreage and income here, and where they generate the majority of their income.

So, farmers are doing better than city folks. That's good to know.

 

[Snobdds]

Hey dud right now searching TBN...

 

[JDZ735M]

If I were a struggling farmer, I’d be looking at sitting down and breaking bread with a couple local conservancies and explain what kind of “win/win” you can do with them.

It can certainly be a Win-Win.

A friend of mine 'sold' place his to a conservation easement which will allow it to be maintained as a cattle operation after he passes. His children will inherit cash money. In all likelihood they would have sold it to a developer.

 

[Hay Dude]

Sounds like you are saying that as slight to farmers. If I'm wrong, I apologize. But please also realize that many farmers (especially those from the younger generations) now have either a BS or MS in agriculture.

Its a pattern

 

[Hay Dude]

Let's see, I guess I'm just one of those dumb ones. Grand parents were farmers, parents weren't, but uncle was. I went my own way for awhile went to school for a few years - please don't hold this against me 'cause I only have a MD with 2 surgical fellowships, an MS in Computer engineering and a DPsycSc.

Somebody in Wyoming just fell off their lazy boy recliner….

 

[Citydude]

It can certainly be a Win-Win.

A friend of mine 'sold' place his to a conservation easement which will allow it to be maintained as a cattle operation after he passes. His children will inherit cash money. In all likelihood they would have sold it to a developer.

Did that help with the inheritance tax liability for the kids? I would say I'm asset rich and cash poor. It's a concern I've yet to ask a tax advisor.

 

[Hay Dude]

define tough...

Long hours and tough are not one in the same.

Really? Working long hours driving, farming isn’t tough?
I sure as heck think it is.

You told us you watch it all get done for you by your farmer while having coffee and bananas with your old lady.
Try it for a decade and see how you feel

 

[JDZ735M]

Did that help with the inheritance tax liability for the kids? I would say I'm asset rich and cash poor. It's a concern I've yet to ask a tax advisor.

I'm sure they figured a way to minimize them as much as possible. It was a sizable amount.

 

[Snobdds]

Really? Working long hours driving, farming isn’t tough?
I sure as heck think it is.

You told us you watch it all get done for you by your farmer while having coffee and bananas with your old lady.
Try it for a decade and see how you feel

First off we don't farm in Wyoming, we ranch.

I can work long hours at my office job, doesn't make it tough. A truck driver can drive for 12 hours, doesn't mean it's a tough job. See how that works?

My neighbor does run his cattle on my meadows. In exchange for that he keeps up the ditches, fences and hays if he wants. He dosen't have to do anything if he dosen't want to...but he does.