Farms in eyes of buyers as 1000’s of farmers near retirement

Many farmers are getting close to pension age and contemplating what to do with the family farm, especially if it is in sheep or beef. But there appears to be a positive turn to the issue of succession with renewed interest in beef and sheep farms by young farmers. The interest has been accompanied by a greater willingness for banks to lend based on market conditions - strong demand for meat and good prices. A Rabobank report last year found that 17,000 farms and orchard owners were reaching pensionable age in the next decade and it is likely there will be a $150 billion intergenerational transfer of wealth. Susie speaks to Federated Farmers Meat and Wool Chair Richard Dawkins