How Are Your Customers Changing?
Below, in two charts, is a short, animated, visualization illustrating the potential effects of structural change on the number of farms and the acreage controlled by alternative farm size categories over the next 15 years. Each chart looks at change across 20 distinct segments; combining five farm size categories (in terms of acreage) and four buying behavior categories (as defined in Farmers of the Future: Market Segmentation and Buyer Behavior).
Based upon data from the U.S. Census of Agriculture, the charts examine the implications if the trends in farm size that occurred between 1987 to 2002 continue until 2017. Data are shown for Corn Belt region; which is defined as being comprised of the following five states; Illinois, Iowa, Indiana, Missouri, and Ohio. The modeling tools developed by Centrec are very flexible in terms of the region of analysis that the user can specify. Regions can be specified from national, multi-state, individual states, or market territories. Market territories are aggregations of specific counties of interest to the user.
The modeling tools that create these visualizations are a key component of the Exploring for Profitability in YOUR Future Ag Marketplace workshop available from Centrec. In the two charts below, first “play” the chart forward by hitting the "play" button and observe the changes in number of farms that would occur in each size category if the trends that occurred from 1987 to 2002 continue for the next 15 years or so. Then move to the second chart, which focuses on the number of acres within each farm size category. “Play” that chart forward; compare the differing implications that would arise simply by focusing on number of farms in each category versus the acreage controlled within those categories.