Structure and Finances of U.S. Farms: 2005 Family Farm Report

Robert A. Hoppe and David E. Banker

No 33895, Economic Information Bulletin from United States Department of Agriculture, Economic Research Service

Abstract: Most farms in the United States- 98 percent in 2003- are family farms. They are organized as proprietorships, partnerships, or family corporations. Even the largest farms tend to be family farms, although they are more likely to have more than one operator. Very large family farms and nonfamily farms account for a small share of farms but a large-and growing-share of farm sales. Small family farms account for most of the farms in the United States but produce a modest share of farm output. Median income for farm households is 10 percent greater than the median for all U.S. households, and small-farm households receive substantial off-farm income. Many farm households have a large net worth, reflecting the land-intensive nature of farming.

Keywords: Agricultural Finance; Consumer/Household Economics; Industrial Organization (search for similar items in EconPapers)
Pages: 42
Date: 2006
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Citations: View citations in EconPapers (17)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersib:33895

DOI: 10.22004/ag.econ.33895

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