Peach operated a family farm and ranch in Mutual, Oklahoma, since 1972. He also owns and operates a farm supply company and an oilfield supply business in Woodward, Oklahoma. He earned his bachelor degree in vocational agriculture from Oklahoma State University. Peach served as the Oklahoma executive director of the Farm Service Agency, an agency within the United States Department of Agriculture, for 1993 to 2000. As executive director, Peach delivered federal agriculture programs to Oklahoma farmers and ranchers through more than 60 county offices across the state.