IDEAS home Printed from https://ideas.repec.org/p/ags/uersib/58623.html
   My bibliography  Save this paper

Million-Dollar Farms in the New Century

Author

Listed:
  • Hoppe, Robert A.
  • Korb, Penelope J.
  • Banker, David E.

Abstract

Million-dollar farms—those with annual sales of at least $1 million—accounted for about half of U.S. farm sales in 2002, up from a fourth in 1982 (with sales measured in constant 2002 dollars). By 2006, million-dollar farms, accounting for 2 percent of all U.S. farms, dominated U.S. production of high-value crops, milk, hogs, poultry, and beef. The shift to million-dollar farms is likely to continue because they tend to be more profitable than smaller farms, giving them a competitive advantage. Most million-dollar farms (84 percent) are family farms, that is, the farm operator and relatives of the operator own the business. The million-dollar farms organized as nonfamily corporations tend to have no more than 10 stockholders.

Suggested Citation

  • Hoppe, Robert A. & Korb, Penelope J. & Banker, David E., 2008. "Million-Dollar Farms in the New Century," Economic Information Bulletin 58623, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersib:58623
    DOI: 10.22004/ag.econ.58623
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/58623/files/eib42.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.58623?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. MacDonald, James M. & Hoppe, Robert A. & Newton, Doris, 2018. "Three Decades of Consolidation in U.S. Agriculture," Economic Information Bulletin 276247, United States Department of Agriculture, Economic Research Service.
    2. Low, Sarah A. & Vogel, Stephen J., 2011. "Direct and Intermediated Marketing of Local Foods in the United States," Economic Research Report 118025, United States Department of Agriculture, Economic Research Service.
    3. MacDonald, James M., 2011. "Why Are Farms Getting Larger? The Case Of The U.S," 51st Annual Conference, Halle, Germany, September 28-30, 2011 115361, German Association of Agricultural Economists (GEWISOLA).
    4. Bigelow, Daniel & Borchers, Allison & Hubbs, Todd, 2016. "U.S. Farmland Ownership, Tenure, and Transfer," Economic Information Bulletin 262138, United States Department of Agriculture, Economic Research Service.
    5. Burns, Christopher & Kuhns, Ryan, 2016. "The Changing Organization and Well-Being of Midsize U.S. Farms, 1992-2014," Economic Research Report 262190, United States Department of Agriculture, Economic Research Service.
    6. Hoppe, Robert A. & MacDonald, James M., 2013. "Updating the ERS Farm Typology," Economic Information Bulletin 147120, United States Department of Agriculture, Economic Research Service.
    7. Hoppe, Robert A., 2014. "Structure and Finances of U.S. Farms: Family Farm Report, 2014 Edition," Economic Information Bulletin 262118, United States Department of Agriculture, Economic Research Service.
    8. Moreno-Pérez, Olga M. & Arnalte-Alegre, Eladio & Ortiz-Miranda, Dionisio, 2011. "Breaking down the growth of family farms: A case study of an intensive Mediterranean agriculture," Agricultural Systems, Elsevier, vol. 104(6), pages 500-511, July.

    More about this item

    Keywords

    Farm Management;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:uersib:58623. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/ersgvus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.