With high input costs and rising interest rates, farming can be difficult to navigate for even seasoned farmers and ranchers. But what about someone who is trying to break into the agriculture industry?
Getting started in farming is no easy task. Input costs are high and interest rates are volatile. Jackson Takach, chief economist with Farmer Mac, says there are a variety of hurdles for new farmers to overcome.
However, Takach says that while 2023 could be a challenging year for those new to farming, he?s confident new producers can overcome those tests.
That was Jackson Takach, chief economist with Farmer Mac, at the 2022 American Bankers Association Ag Bankers Conference.