The main challenges for tomorrow’s farmer are improved labour management, profitability and investments and start-up costs, according to Katrine Lecornu, President of the European Dairy Farmers.

Speaking at Alltech’s flagship beef and dairy event, Global Dairy & Beef, she said tomorrow’s farmers must decide if they want to manage cows or manage people. “The next generation will get us to new heights and they need our trust to get there.”

While exploring the possibility of returning to a medieval tenancy system, Lecornu asked attendees, “Do you need to own your farm capital? Is it possible to produce milk with the price of land at 100,000 euros per hectare like in the Po Valley in Italy?

With the global dairy and beef industries facing challenges on all fronts, talks focused on increasing production efficiency, becoming more profitable and ensuring long-term sustainability. Global Dairy & Beef examined the current industry and looked at future trends, specifically addressing how farmers and producers can stay ahead of the curve.

“Farmers are the eternal entrepreneurs and will have a bright future if they focus on opportunities in their market, embrace technology and are willing to take risks,” said Dr. Pearse Lyons, founder and president of Alltech.

Dr. Lyons wrapped up the 7th Alltech Global Dairy & Beef by asking delegates, “What did you learn? How will it transform your farm? There are so many ideas and yet so little time.”

The 2015 Global Dairy and Beef conference will be held in conjunction with Alltech’s 31st annual International Symposium taking place in Lexington, Kentucky, US in May 2015.