Home | Industry Information | Business News | Browse by Publication | O | Occupational Outlook Quarterly

Farming in the 21st century: a modern business in a modern world.

Publication: Occupational Outlook Quarterly
Publication Date: 22-MAR-05
Format: Online
Delivery: Immediate Online Access

Article Excerpt
In the 21st century, farmers and ranchers are likely to know as much, or more, about world events as they do about the pests or bacteria that are eating their crops or affecting their cattle. Moreover, today's farmers often incorporate the latest breakthroughs in science and technology into a...

View more below

You can view this article PLUS...

  • Hundreds of the most trusted magazines, newspapers, newswires, and journals (see list)
  • Business news from North America and around the World
  • More than 10 years of article archives
  • Unlimited Access at any time - ONLINE and all in ONE place

Now for a Limited Time, try Goliath Business News - Free for 7 Days!
Tell Me More   Terms and Conditions
Already a subscriber?
Log in to view full article
Purchase this article for $4.95

...their farming practices. Modern farmers also are more likely than farmers in the past to be female, Hispanic, and older than the average worker. (See the "Farm facts, 2002".)

But in many ways, 21st-century farmers are not so different from the farmers who preceded them. They are hardworking, independent caretakers of land and animals--and jacks-of-all-trades. And most are still at the mercy of the weather. "Your livelihood is in the hands of Mother Nature, and at times, it can make you unsure of the future," says Steve Anderegg, farmer in Mason City, Iowa. "This is not an occupation for those who like security." Despite this, he says, "it is the ultimate lifestyle." Farmers enjoy having variety in their work, providing the world with food and fiber, and being their own bosses.

Successful farming in the 21st century requires knowledge not only of the latest techniques for raising crops and farm animals but also of how to operate a successful business. This article describes modern-day farmers and ranchers, those who own or lease their own farms and who grow crops and raise animals for a variety of purposes. It also examines how the occupation as a whole is changing and how farmers and other agricultural workers can prepare for the future. Sources of more information are provided at the end of the article.

Farming today

Farmers of the 21st century are, first and foremost, entrepreneurs. The success of their farms rests squarely on their shoulders--or on those of the workers they hire. And more and more, success is measured in terms of profit and loss.

Today, most farms and ranches in the United States are small. But farms are getting larger and more concentrated. Increasingly, farmers contract with large business operations, called agribusinesses. These businesses purchase the farmers' crops or animals and produce the food that we recognize on grocery store shelves. Farmers who do business in this way say that they reduce their risk of losing money because they are guaranteed a buyer that will offer them a known price for their crops or animals.

Other farmers sell their products themselves elsewhere, such as on commodities exchanges--trading centers, similar to stock markets--where prices often are determined by worldwide supply and demand for the products. A variety of factors, such as worldwide market conditions, may lower or raise the prices that these farmers receive. Because these farmers have little control over pricing, keeping down the costs of production is especially important.

Modern farmers use a wide range of techniques to maximize production and reduce costs. Even something as common as the cell phone, for example, has improved farmworkers' ability to coordinate their efforts over thousands of acres and speed up their work. Whether raising crops or livestock, farmers are finding ways to apply modern techniques and increase efficiency. The table on...

NOTE: All illustrations and photos have been removed from this article.



Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.