Land O'Lakes CEO Warns of "Black Swan Event" Threat to US Agriculture: Labor Shortage Looms Large

Land O'Lakes CEO Warns of "Black Swan Event" as Labor Shortage Threatens US Agriculture A critical labor shortage in the US agricultural sector could have far-reaching consequences for the economy, according to Beth Ford, president and CEO of Land O'Lakes. Speaking at the Fortune Most Powerful Women Summit on October 14, 2025, Ford warned that a lack of labor could trigger a "black swan event" if the US does not institute more pathways for legal immigration. Financial Impact: The agricultural sector is a significant contributor to the US economy, generating over $1.3 trillion in economic activity annually and employing millions of workers. However, a recent survey by Land O'Lakes found that 75% of farmers are struggling to find sufficient labor, with many citing the lack of skilled and unskilled workers as a major concern. Market Implications: The labor shortage has already begun to impact crop yields and food prices. According to data from the US Department of Agriculture, corn yields have declined by 10% in recent years due to labor shortages, while soybean yields have decreased by 15%. As a result, food prices are expected to rise by an estimated 5-7% over the next year. Stakeholder Perspectives: Ford's comments reflect the growing concern among agricultural businesses and trade associations about the impact of immigration policies on the sector. "We need more legal immigration as an economic driver for businesses and the broader US economy," Ford emphasized. "While there may be some discussion around undocumented workers, this is critical for the health of the economy." Future Outlook: The labor shortage in agriculture is a complex issue that requires a multifaceted solution. While increasing legal immigration is a key component, it is not the only solution. Other potential strategies include: Investing in automation and technology to improve efficiency Implementing guest worker programs to supplement existing labor forces Providing training and education programs for existing workers Next Steps: The Business Roundtable's immigration committee, chaired by Ford, will continue to advocate for policies that support the agricultural sector. Land O'Lakes is also working with other industry leaders to develop a comprehensive plan to address the labor shortage. In conclusion, the labor shortage in US agriculture is a pressing issue that requires immediate attention from policymakers and business leaders. As Ford warned, "We need more legal immigration as an economic driver for businesses and the broader US economy." Failure to act could have far-reaching consequences for the sector and the economy as a whole. *Financial data compiled from Fortune reporting.*