This study provides valuable insights into cow-calf producer and feedlot operator succession 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 entering beef cattle production. Cow-calf producers view environmental regulations, land tax policy, and expansion of corn and soybean acres as the biggest obstacles. Feedlot operators 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.
Schulz, Lee L.; Artz, Georgeanne M.; and Gunn, Patrick J.
"Succession Planning and Perceived Obstacles and Attractions for Future Generations Entering Beef Cattle Production,"
Journal of Applied Farm Economics: Vol. 1
Available at: https://docs.lib.purdue.edu/jafe/vol1/iss1/1