 America's Diverse Family Farms: 2020 EditionChristine Whitt, Jessica Todd and James MacDonald No 309618, USDA Miscellaneous from United States Department of Agriculture Abstract: Broad descriptions of farms based on U.S. averages can mask variations among farm sizes and types. For example, in 2019, the average value of production on the 2 million U.S. farms amounted to $168,218. Few farms, however, are near the average: Almost half of the farms had production valued at $6,000 or less, while more than 60 percent of all production occurred on farms with at least $1 million of agricultural output. This report uses a farm classification, or typology, developed by USDA’s Economic Research Service (ERS) to categorize farms into more homogeneous groupings to better understand conditions across the Nation’s diverse farm sector. The classification is based largely on the annual revenue of the farm, the main occupation of the farm’s principal producer, and family or non-family ownership of the farm. In this report, there are many sections that appear every year. The data and statistics for these sections are generally similar across the years. The operating profit margin section has varied the most over the years because of the variability in the farm economy. Keywords: Agribusiness; Agricultural Finance; Community/Rural/Urban Development; Crop Production/Industries; Farm Management; Land Economics/Use (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ags:usdami:309618 Access Statistics for this paper More papers in USDA Miscellaneous from United States Department of Agriculture |
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