FCA CEO: Young farmers should jump right in and begin despite industry uncertainty
The head of the Farm Credit Administration says the uncertainty in the ag economy shouldn’t hinder young producers to start their own farming operations.
Glen Smith says “It might mean more risk, at times, but agriculture right now is going through some pretty good times and in good times you can take a little more risk.”
Smith tells Brownfield there are several lending options like the Young, Beginning and Small Farmers program that guarantee financing options that may not be normally available to the next generation of farmers. “Financing- it’s difficult particularly as a regulator in safety and soundness to say take a chance but take a calculated risk with a new entrant into agriculture.”
Smith made his comments to reporters at the Young, Beginning and Small Farmers Symposium hosted by the University of Nebraska-Lincoln.