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Between 1992 and 2002, more than 500,000 older farmers will exit, to be replaced by about 250,000 new young farmers. Farm numbers are expected to decline about 1.3 percent annually, reaching about 1.7 million by 2002. Farm entries will likely continue at low levels. The decline in farm numbers is not a threat to the Nation's food supply. The complex workings of land and credit markets will determine how farm assets of retiring farmers are transferred to the next generation. The outcome of this process has important implications for the structure of farming in the next century.


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