More farmers planning to retire or not grow their operation in the next five years

Ag producers were asked to project their farm’s annual growth rate over the next five years in the latest Purdue University/CME Group Ag Economy Barometer.

Purdue Ag Economist Jim Mintert says “In 2022, 39 percent of the producers said they had no plans to grow over the next five years and 14 percent said they plan to retire in the next five years. So, that’s 53 percent in the no growth or exit/retire category.”

Mintert says the percentage of farmers who plan to exit or retire or not grow their operation has been increasing.

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