Article thumbnail

Succession Planning and Perceived Obstacles and Attractions for Future Generations Entering Beef Cattle Production

By Lee L Schulz, Georgeanne M. Artz and Patrick J. Gunn

Abstract

This study provides valuable insights into cow-calf producer and feedlot operator succession plans for transferring cattle operations upon exiting the industry. Across both cow-calf producers and feedlot operators, about 50% expect to be raising cattle for 10 more years or less; however, about 39% of these producers do not have a succession plan in place. Cow-calf producers view a rural lifestyle, self-employment, working with livestock, and working with family as the biggest attractions to future generations entering beef cattle production. Cow-calf producers view environmental regulations, land tax policy, and expansion of corn and soybean acres as the biggest obstacles. Feedlot operators identified the same attractions as the cow-calf group; however, the highest-ranking obstacles were mostly different, except environmental regulations, and included work hours as well as labor availability and costs

Topics: beef cattle, cow-calf, farm transition, feedlot, succession planning, Agricultural Economics
Publisher: 'Purdue University (bepress)'
Year: 2017
OAI identifier: oai:docs.lib.purdue.edu:jafe-1006
Provided by: Purdue E-Pubs

Suggested articles


To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.