Baby boomers are not like their parents

The Canadian Farm Business Management Council is hosting its annual Managing Excellence in Agriculture Conference in Saskatoon. The opening speaker last night was the renowned futurist Dr. Lowell Catlett from New Mexico State University. Catlett explains how the world has changed over the past generation and how that is impacting all facets of agriculture. The parent’s of baby boomers led a life with few frills. The baby boomers are much more affluent and therefore our demands and expectations are far different. Rather than just nutritious food for sustenance, there’s demand for organic, free range, slow food, food with a smaller carbon footprint, and food that can address health problems. Twenty years ago, the number one determinant for ranchland values in the western side of the U.S. and Canada was the quantity and quality of the forage the land could produce. Now the number one price determinant is proximity to a destination resort. Lowell Catlett says the world has abundance the likes of which it has never seen. The biggest profits won’t be in basic food commodities. The big money will be in the products that cater to the values and the whims of affluent consumers. I’m Kevin Hursh.