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Structure and Finances of U.S. Farms: Family Farm Report, 2007 Edition

Robert A. Hoppe, Penelope J. Korb, Erik O'Donoghue and David E. Banker

No 59032, Economic Information Bulletin from United States Department of Agriculture, Economic Research Service

Abstract: U.S. farms are diverse, ranging from small retirement and residential farms to enterprises with annual sales in the millions. Nevertheless, most U.S. farms—98 percent in 2004—are family farms. Even the largest farms tend to be family farms. Large-scale family farms and nonfamily farms account for 10 percent of U.S farms, but 75 percent of the value of production. In contrast, small family farms make up most of the U.S. farm count, produce a modest share of farm output, and receive substantial off-farm income. Many farm households have a large net worth, reflecting the land-intensive nature of farming.

Keywords: Agricultural and Food Policy; Farm Management (search for similar items in EconPapers)
Pages: 58
Date: 2007-06
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersib:59032

DOI: 10.22004/ag.econ.59032

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