Structure and Finances of U.S. Farms: Family Farm Report, 2010 Edition
Robert A. Hoppe and
David E. Banker
No 291950, Economic Information Bulletin from United States Department of Agriculture, Economic Research Service
Most U.S. farms—98 percent in 2007—are family operations, and even the largest farms are predominantly family run. Large-scale family farms and nonfamily farms account for 12 percent of U.S farms but 84 percent of the value of production. In contrast, small family farms make up most of the U.S. farm count but produce a modest share of farm output. Small farms are less profitable than large-scale farms, on average, and their operator households tend to rely on off-farm income for their livelihood. Generally speaking, farm operator households cannot be characterized as low-income when both farm and offfarm income are considered. Nevertheless, limited-resource farms still exist and account for 3 to 12 percent of family farms, depending on how “limited-resource” is defined.
Keywords: Agricultural Finance; Farm Management; Industrial Organization (search for similar items in EconPapers)
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