Most of Iowa’s farmers are over 55 years old but only half of the state’s farmers have identified successors. The Iowa Farm and Rural Life Poll: 2014 Summary Report shows only 49 percent of Iowa’s farmers have identified those will run their farm operations after they retire. According to the report 14.2 percent of Iowa’s farmers plan to retire in the next five years. The poll participants on average were 65 years old and farm 424 acres.
Plans for farm operations for those who have not identified a successor include 35 percent will rent out land, 29 percent do not know, 20 percent hope to find a successor and nearly 15 percent plan to sell their land.
Iowa State University Extension and Outreach has an Ag Link program that helps match beginning farmers who do not own land with retiring farmers who do not have heirs to continue their family farm business. For more information click here.