Let’s talk farming again.

[blackpowder]

Takes a lifetime of practice to seek the positives.

40 years ago there were 8 farmers with my surname here. Ten years from now there may be 0. My cousins child had a silver spoon and it isn't in his heart or under his fingernails. All business needs to be taught and imbibed.
I'm rolling a non land owning younger non relative with a great off farm ag career into the corporation.
The business aspect has to be foremost, but the enterprise itself has to be in the heart.
40 years ago the rules of business were never taught. Reaping now what was sown.

[Sheepwheat]

It has to extend as well beyond production of x product. It has to extend to how to market it.

I know for most farmers, it is a very foreign concept to set your own price. Most think marketing is calls, puts, basis contratcs etc.

We can now make a living off of about 200 acres of total land use for the sheep. Not because of how many we produce, but because of our marketing and setting our price. Same with the garlic guy.

We both go to stores and restaurants etc. share samples, and tell them our prices. Some are all in, many or most are not. The key is to get the ones who will buy in, and hold them with superior product, consistent product, and consistent delivery.

The guys who diversified in the last go around are not the same IMO as the are now. Then it was wild and crazy, trying to grab the next best thing, ostriches were hot, ginseng, elk etc. There was ZERO self marketing, except for the breeders. They were still producing a commodity at a price not their own.

The pigeon king, remember him? Ha. He caught up a whole slew of ppl who thought they were diversifying.

Diversifying is not an animal, a plant. It is diversifying your mind. Thinking about producing non commodities. Pricing your product yourself. It can be done. Farmers need to encourage it, not shame those who believe in themselves. Been there done that!

[Sheepwheat]

Sorry, sprinkling here so I have some time. The reason I brought this thread up is because our country side is emptying out. As I look at the farmers around me, while there are several young guys going hard, 90% of them have no wife, no partner, and therefore no kids.

This worries me. What kind of a place will it be in twenty years when three guys farm the RM? That is why I want to encourage from the bottom of my soul, new farmers. I am in an area where historically the farm size was much smaller than other areas, but this has very rapidly changed, as the thousand acre batchelors have faded away. Now we have six thousand acre batchelors. What happens when they are done? China? Hutterites, bless their hearts.

Instead of thinking ahead though, everyone is horned up for more land. For what? I dunno. I guess to take it with them when they die?

I dunno, maybe it is insurrmountable?

[ajl]

Main reason the countryside is emptying out is due to interest rates never going up. Land speculation, not hard work is the way to get rich in failing states like canuckistan. If rate go up, then retires have a reason to sell assets making them available to others and then we might see repopulation of rural areas. The farming that goes on does so because for the most part it works. Diversification has limited application in our climate and geography. My hat is off to them that make it work. I run a small farm that is fairly conventional with off farm gigs and we make it work for the most part Been somewhat fortunate on the machinery front as that is the biggest pain at smaller scale. Did not inherit land so that it why I am small. As far as your kids, Sheep, I bet one or more will farm as there will be few quality off farm jobs in the future. That is one of the reasons I farm: nothing else to do. If you want to get depressed read help wanted adds. Remember gender and skin color matter are the main qualifications for a good job today. That is reality in today's canuckistan.

[dalek]

Oldest daughter leaves for a 5 year law program next month. I’ll be surprised if she’s back other than to visit, rural life just isn’t her thing
Next oldest isn’t much on farming either but wants to be a chef and she’s also kind of crunchy, locavore kind of thing. I could see her potentially opening a restaurant or some other food business linked with the farm down the road but probably not on the production side.
Oldest son is mechanical, loves wrenching, loves anything to do with logging and the sawmill which we’re expanding a bit. Not much for livestock.
Youngest son is ALL about the animals. Nothing he likes better than working sheep.

No idea where any of this ends up in a decade or two but it’s where things are now

[woodland]

Sheepwheat…….. great topic👍

The kids here are fairly interested in the farm which is kinda nice. My folks only made us finish high school and offered to pay for a couple years of university if we wanted. Only took evening courses for business management and never looked back.

My 8 year old daughter wants to be vet and has been all along. Says she will fix my cows for me. Not squeamish in the least as she wants to see the kill floor at the butcher or any surgery we do here.

My 7 year old boy wants to do anything he’s able to here. Chase cows, fix fence and equipment, pull net wrap, and anything else.

The one year old is always excited and lets us know whenever she sees cows. Hasn’t said what she wants to do yet😉

I know my folks taught us from young about the money side of the business and I’m grateful for that. Some parents keep it a secret and wonder why the kids later on have no money sense. We knew what payments needed paying when and even took out loans at 14 years old to buy bred heifers.

The layer chickens we got are hopefully a way to start teaching our kids about the less sexy/glamorous money side of the business.

May need to add some more hired help to tide us over till the kids decide what they would like to do. My folks and hired cousin are all in their late 60’s and slowing down. The kids are definitely free to do whatever they would like. The only caveat I have is they need to be happy. 🍀

[fjlip]

BP I guess anyone with an interest can have shares in the farm corp. Doing same with sons who are off farm employed currently. Land will stay in family, after us, they will do what ever is best for them. Both Really enjoy helping, one is a mechanic, will see how it all unfolds. Discussed borrowing a couple million to be a BTO, he said no thanks. We could stop any day, but yes, what does one do? A career change should have been 10-20 years ago. Just a STO, but have no regrets. Physical health will determine retiring time, then bigger decisions by all involved will happen. There are thousands of individual situations, use a good accounting firm to minimize giving the TURD more to waste!

[Old Cowzilla]

My youngest son is going to take over most of the grain side of the farm. I continue with the cattle part for a few more years . With the amount of grey haired business people ready to retire in the next few years there will not be a shortage of professions .

[blackpowder]

BP I guess anyone with an interest can have shares in the farm corp. Doing same with sons who are off farm employed currently. Land will stay in family, after us, they will do what ever is best for them. Both Really enjoy helping, one is a mechanic, will see how it all unfolds. Discussed borrowing a couple million to be a BTO, he said no thanks. We could stop any day, but yes, what does one do? A career change should have been 10-20 years ago. Just a STO, but have no regrets. Physical health will determine retiring time, then bigger decisions by all involved will happen. There are thousands of individual situations, use a good accounting firm to minimize giving the TURD more to waste!

When I do stew over what I could've done differently, all I see is an 8-5 for someone else. I would have inherited some debt free land, so it's slightly possible my balance sheet might look better today LOL.
But I supported two households and a few lawyers as well as a few employees along the way. Likely balance sheet the same anyway considering divorce timing and parent's low ACB for capital gains.
I was who I was, and here I am today.
It seems now I have more regrets over people than money. But that's another story for another thread.

[jazz]

My youngest son is going to take over most of the grain side of the farm. I continue with the cattle part for a few more years . With the amount of grey haired business people ready to retire in the next few years there will not be a shortage of professions .

I would be cautious there cowzilla. every single company during covid learned to operate with fewer employees and then leaned on tech for the rest.

That could be a harbinger of whats coming for regular professions. Skilled and unskilled will be hit pretty hard I imagine. Even doctors and others at those levels could see disruption.