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

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Author Info

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

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.

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File URL: http://purl.umn.edu/59032
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Bibliographic Info

Paper provided by United States Department of Agriculture, Economic Research Service in its series Economic Information Bulletin with number 59032.

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Date of creation: Jun 2007
Date of revision:
Handle: RePEc:ags:uersib:59032

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Related research

Keywords: Contracting; family farms; farm businesses; farm financial performance; farm-operator household income; farm operators; farm structure; farm type; million-dollar farms; small farms; ERS; USDA; Agricultural and Food Policy; Farm Management;

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Cited by:
  1. Peterson, Hikaru Hanawa & Barkley, Andrew P. & Chacon-Cascante, Adriana & Kastens, Terry L., 2012. "The Motivation for Organic Grain Farming in the United States: Profits, Lifestyle, or the Environment?," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 44(02), May.
  2. MacDonald, James M. & Key, Nigel D., 2012. "Market Power in Poultry Production Contracting? Evidence from a Farm Survey," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 44(04), November.
  3. Hand, Michael S. & Nickerson, Cynthia J., 2009. "The Role of Cost-Share Rates and Prices on the Size of Conservation Investments in EQIP," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin, Agricultural and Applied Economics Association 49257, Agricultural and Applied Economics Association.
  4. David E. Ervin & Leland L. Glenna & Raymond A. Jussaume, 2011. "The Theory and Practice of Genetically Engineered Crops and Agricultural Sustainability," Sustainability, MDPI, Open Access Journal, vol. 3(6), pages 847-874, June.

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