Variations in leasing arrangements and optimum farm organizations for part-time and part-retired farmers in West Tennessee

The problems of farm managers, operators, and rural land owners have intensified because of rapid technological, economical, and sociological changes over the last twenty years. These changes have caused new risks and uncertainties and have placed a high premium on competent farm managers. Increased land values and large investments in machinery have placed a greater burden upon the small operator and hindered the entrance of young men into farming. The addition of many new industries to Tennessee has resulted in more part time farming, increased absentee land ownership, and a shortage of labor for farm use. The industrial jobs and other more rewarding opportunities outside of agriculture have caused many young farm people to leave the farm. Thus there are many old people with farms and no one to operate them. There are many small inefficient farms in Tennessee which result from an improper relationship between land owners, farm operators, and farm laborers. While many farmers need more land and young people are wanting to enter farming, part time farmers are in need of labor, machines, and management; retired or semi-retired farmers need someone to operate their farms; and absentee land owners need managers and/or laborers. Many farmers have found it advantageous to sell or rent their farms and to engage in off farm work. The overall objective of this study will be to determine the most profitable combination of resources and enterprises which will maximize net profit for owners of six representative farm situations in West Tennessee under various rental arrangements and two different labor supplies.