Five questions young farmers ask
Successful Farming magazine Crops Technology Editor
Expansion and volatility
Ryan and Hope Pjesky, the Goltry, Oklahoma, farmers featured in the mid-March Farmers for the Future profile, face the same challenges as other young farmers. Here's what they had to say about some questions young farmers ask these days.
1. Should I expand?
It's true that growing your farm by renting or buying more land can help you increase economies of scale.
Still, watch the price you pay. "If you can't afford it and it takes profit away from the rest of your operation to pay for it, it doesnt make any sense," says Ryan Pjesky.
The Pjeskys aren't averse to expanding their stocker cattle and winter wheat operation by buying more land. "If the right situation presented itself, we wouldn't turn it down," he says. "I'd like to see land prices soften a bit, though. Land prices right now are unreasonably high. It makes no sense to buy land at the peak.
"When I make a decision like buying land, I always ask myself, 'Is it going to jeopardize something my dad, grandfather and great grandfather built?'" says Ryan.