Opinion
Comprehending producer situations is helpful to distributors, manufacturers and veterinary professionals alike. While the outlook for 2021 is filled with uncertainty, Jennifer Ryan’s look at the farm economy’s precarious position resonates across all animal species. Note the reliance on off-farm income in many households.
Let’s be honest.
It’s rare to see an agricultural producer without a pet or two. Too often, our industry misses the connection between town and country. The economies of county seats and smaller cities are a blend of rural and community income categories. Knowing clients’ situations is helpful to secure a relationship that optimizes animal health and provides solutions to fit the clients’ financial position.
Source: Vet Advantage, December 2020. Link.
In 85% of all farms, off-farm income is more than 100% of their total household income.” – David Widmar, co-founder of Agricultural Economic Insights, LLC