One thing that can be said about the 2008 financial climate: this is not a halcyon time for investment banking professionals.

The credit market stress that has rocked U.S. and European markets this year has idled many investment bankers, syndicate and securities professionals and related financial specialists. Many have adjusted their career tracks, if they haven't already shifted to a new profession / line of work.

And what's one sector that may see an influx of displaced banking talent and/or represent a new, hot sector for dealmakers? Farming.

That's right: Farming. Two factors suggest farming may need, and attract, more talent: 1) the bullish trend for food given increased demand, and 2) the preference for locally-grown food, so says economist Glen Langan, whose specializations include agricultural economics.

"International food demand has improved food profit margins to the point where farming can compete for capital with other up-and-coming sectors," Langan said. "There's always a risk that food demand could pull back slightly on a global economic slowdown, but the long-term factors are and will remain bullish."

Further, in addition to emerging market food demand that's boosting farm prices, the trend toward local food in the United States, and elsewhere, is increasing the farm sector's appeal as a career, Langan said. There are five reasons consumers want local food: freshness/taste, maintaining local open spaces, support for local farmers, keep money in the community, food source identification, The New York Times reported Wednesday.

Local food is 'in'

"Those two factors, combined with the preference by growers to lower transportation costs by having more food distributed to closer markets, where possible, mean we'll continue to see an increase in farms and growing areas. It's not a cyclical thing, it's a structural change," Langan said. "So that new farm you pass in the countryside may in fact be owned and operated by an ex-investment banker or deal maker."

Farming/Food Sector Analysis: As economist Langan noted, local food production is up and likely to continue. Further, provided grocery store chains, and others, continue to increase their purchases from local farms, margins are likely to remain adequate, fanning further growth, and another influx of talent, financial and otherwise.