The average age of U.S. farmers is on the rise – 57.8 in 2012 vs 53.2 in 1997, according to USDA data. But economist Todd Keuthe of U-Illinois says that “a closer look at the data reveals the ‘aging farmer problem’ may be overstated by some.” In Illinois, for instance, nearly 32 percent of principal operators of farms are over age 65. But they account less than 25 percent of farm acreage and less than 22 percent of income, writes Keuthe at farmdoc daily.
“Farmers between 35 and 54 represent a similar share of farm numbers at 32.7 percent but account for a much larger share of acreage (37 percent) and income (38.6 percent),” said Keuthe, who says the distribution of income “is much closer to what one would expect of most small businesses.”
“The largest share of the income of the sector is captured by managers between the age of 45 and 64. Just over half of Illinois’ primary farm operators are between ages 45 and 64 (51.5 percent). This group, however, represents 60 percent of Illinois’ agricultural land and 62.9 percent of the state’s farm income,” says the farmdoc daily article.