Industry Analysis & Industry Trends
The overall industry is forecast to continue growing at a moderate rate over the next five years. Demand for hay will increase as cattle farmers switch to hay for cattle feed, while organic hay continues to become increasingly popular as consumers opt for organic beef. Consumer preferences will also dictate growth in the sugar beet segment as soda and snack manufacturers opt for processed sugar over high-fructose corn syrup... purchase to read more
Industry Report - Starting a New Business Chapter
Overall, there are few barriers to entry into the Hay and Crop Farming industry. Generally, all inputs are readily available, producers can typically shift between agricultural activities with ease, and there are often a number of farms for sale. Nonetheless, two possible barriers include capital investment requirements and problems securing finance for such investment.
The establishment of crop farming operations requires some investment. New participants need to purchase land, machinery such as harvesters and tractors, and irrigation equipment for sugar beet crops. According to the 2012 Agricultural Census (latest available), the average US hay farm occupies land and buildings worth $549,579 and employs plant and machinery valued at $54,681... purchase to read more