Have you ever stopped to think about how farmers impact your day to day life? According to the Environmental Protection Agency, food is more affordable in the United States than in any other developed country in the world thanks to our farmers. Plus, the U.S. farmer is the most productive in the history of the world (1).
At Merchants Bank, our Ag lenders support and partner with farmers every day to help create prosperous farming operations. “I like working with farmers because, for one thing, I grew up on a farm. My dad had 50 head of black Angus cattle. Farming is not a simple business, and each and every day I continue to learn from our local farmers,” said Matt Schuldt, Market President for Caledonia and Spring Grove.
In honor of harvest this fall, we’ve collected some amazing facts about the farm industry and farmers in the United States. Did you know?
- There are 2.1 million farms in existence in the United States (2). Less than 1% of those farms are certified and exempt organic farms (3).
- The average farm size is 434 acres (4).
- Only 45% of farmers claim farming as their primary occupation (5).
- 30% of farms are operated by at least one woman (2).
- Farmers work an average of 9.91 hours per day on weekdays and 10.24 hours per day on weekends and holidays (6).
- Minnesota farms rank first in production of green peas, red kidney beans, sugar beets, sweet corn and turkeys, (7) while Wisconsin farms rank first in production of cheese, milk goats, mink pellets, corn, cranberries and snap peas (8).
- In 2015, the U.S. pork and poultry industries will produce a record 95 million pounds of meat (9).
We wish all of our ag customers a successful harvest. According to Brian Hokanson, Ag Lender in Cannon Falls and Red Wing, the harvest outlook is positive so far, “In this region, the start of harvest has been excellent. Yields are coming in better than expected and while prices on commodities, specifically corn and soybean are down, yields are giving everyone a little bit of hope for fall.”
For more information on financing, equipment loans and leases and other opportunities for your farm or business, contact an Ag Loan Officer at your local Merchants Bank.
Loans are subject to credit approval.