As we approach the midpoint of 2021, it’s time to focus on the positives that we, who are involved in production agriculture, all share. I think agriculture is the place to be right now.
U.S. agriculture is full of great people. Across the Midwest and West, agriculture is made up of people with solid beliefs and strong core values—the kind we are proud to have as our friends and neighbors. Agriculture also has the potential to create strong balance sheets and great income. This fact distinguishes agriculture from many other businesses. For example, a freight company can make good money, but the very activity that creates revenue devalues its primary asset: a fleet of trucks and trailers. But the value of land, agriculture’s asset base, builds value over time. Every day it seems like there are new opportunities emerging to make a premium or cut costs in both livestock and crop production operations.
Our agricultural products—food, fuel and fiber—are essential to the entire world. While we can get by without many of the goods and services produced in other business sectors, we cannot survive for very long without the products that U.S. agriculture produces for the world.
When it comes to tax and financing opportunities, agriculture rises to the top of the heap. Long-term land loans are relatively easy to obtain, generally at great interest rates. When you combine land investment with tax planning opportunities, you can’t beat the financial advantages for managing income for those engaged in production agriculture.
Finally, when you are involved in production agriculture, you get to live in some of the best parts of the country. The pandemic has accelerated city dwellers’ desire for open spaces and clean air, but we already get to enjoy it!
In closing, I would be remiss if I didn’t take the opportunity to thank you for your business. We know you have a choice and we appreciate you making us part of your operation. And thank you for playing your part in the greatest industry on earth— agriculture!