Taking Over the Family Farm?

[masfarmkid]

Hi everyone!
I would like to get some outside opinions on taking over my parents farm. I feel like there is a lot of details I want to include, so sorry if this post seems choppy and sorry if it gets long.

I grew up on a crop, beef, and dairy farm in Minnesota my entire life. My parents (Dad is 65, Mom is 53) are both in excellent health. However, I know that they are starting to enjoy the ability to spend time away from the farm camping during the summer, attending threshing shows, etc. since they sold the dairy cows a couple years ago. They currently have about 100 head of beef and raise around 350 acres of land, owned and rented land.

I moved 80 miles away to go to college about 6.5 years ago; I received my bachelor痴 degree and currently have a full time job. I enjoy my job, most days. About 6 months ago, I started to strongly consider taking over my parent痴 farm someday and going into a partnership until then. I have been thinking about how it would be able to work out financially and have been considering the idea of going back into dairy where I am responsible for the cows. We still have holsteins in our beef herd that could transition to milk cows, the barn and all the equipment is still there, and the lots and pastures are there as well. I have always loved being on the farm: field work, fixing tractors with my dad, taking care of the animals with my mom, and just being able to spend time as a family in general. I come home every weekend I知 off during planting and harvesting season just to help out.

I have realized that the farm is like my oasis or sanctuary, it kinda sounds dumb, but I知 not sure how else to explain it. I just feel peaceful when I知 there, and I love that I know people and they know me. The farm is in a town of 3000 people as opposed to currently living in a town of 100000.

I know that my sister will never want to take it over; she has never been fan of farming. So, if there is any chance for my family痴 farm to continue on to a second generation, it痴 in my hands. I don稚 really feel pressured by that though; I kind of feel like it would be an honor. How many people now days can say that they have that gift. Plus, it would break my heart to see all of that land going to someone else in the future. I grew up on that land, played on that land, and picked up rocks on pretty much every single inch of that land (by far, the worst job in the history of the world!)

To wrap this up, I just want to know what other people would do in my situation. (My dad is a very passionate person, so I have to be a 100 percent certain this is what I want before I bring my interest up to him.) Is it crazy to step away from a full time job with benefits to follow something that I知 pretty sure would make me happy, even if it isn稚 as financially stable? I am also 25 years old, if that is of any importance.

Thanks!

 

[Luke'sScreenName]

FYI, the vast majority of frequent posters here do not nor have ever farmed/ranched full-time. So keep that in mind with the responces you get.
Truly, best of luck with your decision (even if it sounds like you've already made it!).

 

[Ed of all trades]

If I were you I would talk to your mom and dad. They might be hoping for just that. That would be the place to start. I farmed for 20 years after taking over the family farm at 10 yr old. My dad got sick and I took over. After 20 years I had enough. Wish I was back there now. Ed

 

[Alien]

Not so sure I would like the cattle side of the business although it can be quite profitable providing you don't have to buy in feed. I am more interested in cropping, haymaking etc. (I guess I love my machinery)
I think your folk would be secretly hoping you would be interested but are letting you make up your own mind with no pressure from them.

 

[cruz54982]

My brother-in-law and I took over the family farm with everything done legal and on paper so there were no disputed items that ever came up. One of the provisions was a lifetime lease on the house and garage that could not be revoked even if we sold or lost our butts - they were protected. We paid a small yearly purchase fee until the agreed price was reached, it worked well for us and lasted for 30 years ! Not for everyone but a good life.

 

[DT86]

As far as going back into the dairy business...
Have you looked at what milk is bringing?!

 

[roadhunter]

Sounds like it's' something you really want to do. Being able to get up and do what you want is worth a lot these days. With today's consumers wanting to know more and more about where thier food comes from there are opportunities for producers willing to give them what they want.

 

[MF283]

As far as going back into the dairy business...
Have you looked at what milk is bringing?!

That & the requirement's to do it was what i was going to bring up, plus a discussion with your parent's. This day & time, i would look at naturally grown beef, no drugs or additive stuff that most producers use.
If you have enough land without the rent/lease land, organic veggies is very profitable, you'd have to market both the meat & veggies, sounds like it would be right up your alley though.

Ronnie

 

[KYErik]

I just did what you are considering. I enjoyed growing up on the farm as a kid, went to college, got a few degrees then got a good full time job and worked it for 15+ years. My job was about 3 hours from the family farm but I enjoyed coming back and visiting/helping out. While I was out of stateworking, I bought some acreage, got some cows and chickens, started cutting and baling my own hay and then said- "hey I'm building my own little farm here" and started wanting more land. My brother wasn't ever interested in the farm soI thought I might as well talk to my parents about moving back. Right now my dad and I are 50/50 partners and I am learning how to do everything I never learned as a teenager (how to set the drill and planter, how to choose herbicides etc.) My parents winter in florida so I take care of the cows all winter (they appreciate being able to get away and do that). I will gradually assume more and more responsibility. I have no regrets but I still have a full time job because the farm (320 acres total- 50 beef cows, 120 acres of it is corn and beans) cannot sustain a family. Talk to your parents about your idea and about the farm's cash flow. You will likely need a full time job to supplement the farm income. Most farmers around here with less than 500 acres have a full time job if they have a family.

 

[Creamer]

You are in a great situation. The farm is small enough for you to handle and yet big enough to have value plus you have someone who probably does not want to just walk away. You could make it an easy transition and keep your job for a while until you get things worked out to where you know that 1) it is where you want to be and 2) you cn make a living at it like you think you can.

 

[Budweiser John]

In reading and rereading your original post I think you've all ready made up your mind and that is good.
Relative to the risk vs benefits, there is not an occupation going that it totally immune from risk in one way or another. Farming is the nobelest of occupations.
Keep us all posted on your decision

B John

 

[dieselcrawler]

Most people of your age are looking to leave the farm, not go back. I envy your opertunity, it sounds like you have a good plan and enough common sense to make it work. Best of luck to you and your family.

 

[nybirdman]

Sorry to discourage you but I can't believe you can make a living with a small dairy or beef operation today.
There use to be 27 small (50-300) dairy operations in our area;now there are two or three large(99-1500)head farms.Millions of dollars operating cost and still don't see how they "make"or profit from it.
And my family was one that couldn't make it;three generations and no over-head to speak of and still couldn't make a go of it.Seven days a week and no holidays or vacations.
With the current prices of corn and soybeans ,crop farming is a looser also.Beef;forget it.

 

[barko1]

Does sound like your heart wants to do it, probably need some good hard looking at the realities to balance that out. I've never been close to being a farmer but watched relatives do dairy in WI. Like others said many of the small operations are folding, hard to get help, bad prices at times, dairy tying you down everyday. Dad won't always be there to milk the cows. I wasn't a farmer but spent 30 years as a psychologist in Universities including UMM and SJU in MN

 

[Creamer]

80 miles is not too far to commute for a while. I have commuted much farther than that and many people do.

 

[tcreeley]

Be smart. What you really want- go for it. Push the organic- hard to compete with factory farms- find a niche market.

 

[Ed of all trades]

Was talking to my neighbor who is a dairy farmer. He said now is a good time to get in because you can buy cows and equipment cheaper now than if milk prices were way up. Ed