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

Author

Listed:
  • Schulz, Lee L.
  • Artz, Georgeanne M.
  • Gunn, Patrick J.

Abstract

This study provides valuable insights into cow- calf producer and feedlot operator suc-cession 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 enter-ing beef cattle production. Cow- calf producers view environmental regulations, land tax policy, and expansion of corn and soybean acres as the biggest obstacles. Feedlot opera-tors 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.

Suggested Citation

  • Schulz, Lee L. & Artz, Georgeanne M. & Gunn, Patrick J., 2017. "Succession Planning and Perceived Obstacles and Attractions for Future Generations Entering Beef Cattle Production," Journal of Applied Farm Economics, Purdue University, vol. 1(1).
    • Handle: RePEc:ags:pujafe:302988
    DOI: 10.22004/ag.econ.302988
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